Elan looks forward to end of probe

Elan Corp will be hoping the conclusion of a probe by US market regulators later this month will finally close the bleakest chapter in the Irish drug maker’s history, which saw it brush with bankruptcy.

“It will be very positive in terms of severing the link with this sorry story and free up management to concentrate on developing the pipeline (of new drugs),” said one Irish analyst.

Elan has said it is on track to wrap up a Securities and Exchange Commission (SEC) investigation into its accounting methods by the end of September.