'Unsolicited interest' in Elan assets, chairman tells AGM

ELAN CORPORATION is seeing significant "unsolicited interest" from several quarters in its assets, according to company chairman Garo Armen.

He told the troubled drug marker's AGM he was hopeful that it would have a new chief executive in place within three to six months and the planned 1.5 billion euro restructuring programme was going well.

Mr Armen also reassured the surviving workforce in Athlone, saying it was unlikely the Irish manufacturing plant would be sold off.