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Royalty Pharma said in a statement that Elan "dramatically overpaid" for the Theravance deal. It also said that deal "was pursued in haste and without critical confidential information which could significantly impair the value of the asset." The company added that it suspects the same may be true of the deals Elan announced Monday. It said its increased offer is conditional on shareholders voting against the Theravance deal and the other transactions. U.S.-traded shares of Elan climbed 3.5 percent, or 41 cents, to $12.08 Monday afternoon, while broader trading indexes fell slightly. That put the stock up 18 percent since the start of the year.
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