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Provider: Thomson Reuters Stock Report
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Elan Corporation PLC Strikes $1 Billion GlaxoSmithKline Plc Royalty Deal With Theravance Inc-Reuters

Monday, 13 May 2013 02:12am EDT 

Reuters reported that Elan Corporation PLC stepped up its bid to keep its independence by agreeing a $1 billion deal to buy 21% of the royalty that U.S. company Theravance Inc receives from GlaxoSmithKline Plc for its respiratory drugs. 

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