NEW YORK — A privately owned drug maker in New York is offering $6.5 billion for Irish drug maker Elan, but hasn't heard back from it, according to published reports.
The Associated Press reported that Royalty Pharma's $11-per-share offer for Elan represented a 4% premium over its closing price Friday. Royalty buys royalty interests in drug products that are in late-stage development or have already entered the market, but doesn't develop or market drugs of its own, the AP reported.
