Elan: Business review won

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But will a minority investment inthe company, a strategic alliance, a merge r or a sale — amonh the alternatives Elan leaders have asked Global Marketx to ponder — help or kill Elan’s new U.S. research and administrativer headquarters in SouthSan Francisco? Elan in May will move from 800 Gatewayu Blvd. to 102,000-square-foot quartera at 180 Oyster Point It also tookanother 83,420 square feet at 200 Oystef Point, set for a 2010 move-in date. Mary who was named Elan’s head of corporatwe relations latelast year, said the company stilp plans to move into both Oystedr Point buildings.
The structures, both new buildings from of willhouse R&D and othert operations, including the office of newlyt appointed President Carlos Paya. “This is the rightg time for the (Citigroup) process,” CEO Kelluy Martin said at therecent J.P. Morgan Healthcare Conferenc inSan Francisco. Elan announced last month that it wouldsave $20 millio n to $25 million by closing its Tokyo and New York The company had about $450 milliob in cash at the end of 2008, Martinn said, but burned roughly $300 million last Meanwhile, the company’s lead drug, the multiple sclerosies treatment Tysabri, saw a fourth-quarter sales That likely is tied to safety concerns regardint a potentially deadly brain infection reported for two patiente taking Tysabri.
Some of the highlights from the 27thAnnuapl J.P. Morgan Healthcare Conference atthe St. Francis After hiring more people than in anyprevious year, Foster City drugmaket will slow down the pace this year at the 3,200-employese company. That’s not indicative of a hirint freeze, said President and COO John Milligan, but simply gives new hires a chancew to learntheir jobs. “I don’t thinlk we’re quite as efficient as we need to Milligan said. Gilead plans to nearly doublr the officeand R&D space at its Fostetr City headquarters to 1.2 million square feet as it adds 1,90 0 jobs there over 10 years.
But Milligan said that’s more of a guidelines for the HIV/AIDS, cardiovascular and respiratory diseasesw drugmaker thana hard-and-fast “The city makes you say some numbet (on its paperwork),” he “We didn’t know that would be going public as quickly as it Privately held of Brisbane continues to attracty investor interest, both near and far. The compan — in Phase II with a potential treatment for tripl e negativebreast cancer, a particularly scurrilous form of the diseasse that quickly strikes down younger women announced a $20 million investment from existing investords like , and . But CEO Dr. Hoyounb Huh said he fielded “a lot” of J.P.
Morgahn conference meeting requests from potential foreigb investors who want to getinto U.S. At the same time, othee biotech-focused regions of the world are becomingh more competitive with theBay Area, Huh said. BiPard itself decided nine monthes ago to set up manufacturingin India. “Thed threat is no longer Massachusetts,” he said. As it tried to capture more sales among livercance patients, Emeryville-based is expanding sales calls for its drug Nexavatr to include non-oncologists like hepatologists and Nexavar, which has been shown to inhibiyt cancer cell proliferation and blood is the only FDA-approved treatment for liver It also is approved in more than 70 countries to treatf advanced kidney cancer.
The initial expansion of the live cancer sales force in the United Statesx was about10 percent, said President and CEO Dr. Tony Outside the United States, Asia-Pacific has strong potential, he but some European launches remaihn in countrieslike Italy. Parting J.P. Morgan shot: This isn’t the Hiltob A nursing home executivde complained to investors atthe J.P. Morgan conferencd about all of the services his facilitiez must provide for patients from physical therapy to three meals a day to laundry andline — with a low level of reimbursementf from government insurance programs. “I stayed at the Hilton and they put a mint on my pillow for $300,” he said.
“And we thino nursing homes canmake