Bad times return for Elan’s investors

OH no, not again was the refrain from Elan shareholders yesterday as the share price plummeted, bringing back painful memories of 2001 and 2002.

Yesterday’s fall knocked €5.4 billion off the value of the company.

Elan has become the enfant terrible of the Irish Stock Exchange and like the little girl with the curl in the middle of her forehead, when Elan is good it is very, very good, but when it is bad it is horrid.