It was with amusement that we noted Elan CEO Kelly Martin hold up our little old blog as part of his defense of Elan's "18% solution" transaction with Johnson & Johnson, itself a small part of his unusual and unusually lengthy defense of his leadership of Elan. We were amused because we always assumed we were the Rodney Dangerfield of biopharma weblogs, but were encouraged to hear otherwise.
Johnson & Johnson transaction: First, it is important to remember that this was an excellent transaction that significantly reduced our science, financial and execution risk around the immunotherapeutic approach to Alzheimer’s as well as allowing for the acceleration of the development of this technology and approach to the treatment of patients, while at the same time enabling shareholders to participate in the potential for substantial longer term value creation. I noted the positive comments from Moody’s earlier. The highly respected IN VIVO Blog also named it the 2009 M&A/Alliance deal of the year.