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With gift unknown

13 May 2013 By Robert Cyran

Finance firm Royalty Pharma is offering $5.7 bln to buy Elan, which just announced a $1 bln deal to buy a chunk of royalties that Theravance receives from Glaxo. Confused yet? Blame low rates and Big Pharma’s risk aversion for fertilizing M&A bankers’ creative schemes.

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