Elan Corp. Explores Alternatives

Elan Corporation, the £2.6bn Dublin headquartered biotechnology company, has engaged Citigroup to undertake a strategic review which could lead to a strategic alliance, merger or sale.

Kyran McLaughlin, Elan Chairman, said: “We recently concluded our annual review of the Company’s scientific capabilities, clinical portfolio, and commercial opportunities in Alzheimer’s, Parkinson’s, and Multiple Sclerosis. Our progress to date has been significant.Given our many scientific, clinical and commercial opportunities and the capabilities of the industry participants that surround us, the Board of Directors has determined that this is an appropriate time for the Board to explore potential alternative paths forward for the Company.”

Source: Thomson Merger News