Cinven ends interest in Elan research arm

EUROPEAN private equity house Cinven has reportedly ended any interest it had in acquiring Irish pharmaceutical company Elan’s drug research arm, Elan Drug Technology (EDT), which is currently being hawked around the market for potential buyers.

Cinven, Apax and Kohlberg Kravis Roberts (KKR) have all shown interest in the asset, while Bain Capital and TPG made first-round bids for EDT at the end of last week.

Elan recently employed Lehman Brothers and Goldman Sachs to look at options for the future of the EDT division.