Recently, Elan (ELN) has been one of the most rumored-about companies/stocks (<—we dare not say manipulated here) with an “impending” deal on the table.

Now, the Irish drugmakers get two deals done in two days, but sorta kinda. Yesterday’s Acorda (ACOR) deal with Biogen (BIIB) gives ELN some royalties on the backend. Elan had the IP to Fampridine-SR and also manufactures the drug. Still potentially good news IFFFF Fampridine gets approved.

Today, ELN announced that Johnson & Johnson (JNJ) is investing $1 billion for an 18.4% ownership stake in ELN. JNJ gets majority ownership for ELN’s Alzheimer’s program, bapineuzumab, and is committing $500 million towards bapineuzumab’s development.

But talk about rumors! Even Reuters, the WSJ and the AP were reporting about all the potential bidders:

• Bristol-Myers Squibb (BMS)

• Pfizer (PFE)

• Lundbeck

But enough of that. Here’s what we do know: At last months Goldman Sachs Healthcare conference, ELN CEO Kelly Martin confirmed:

• First pivotal trial results for bapineuzumab in the 2H10;

• Still expects to sell drug delivery business, but not until after a strategic transaction.

Check out all the posts we’ve ever done on ELN…

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