Deal for Elan not ‘possible’

ELAN’s share price dipped by just over 1% yesterday after Danish pharmaceutical firm Lundbeck ruled out any potential takeover approach for the Irish company.

The Danish company had in recent weeks and months been heavily and repeatedly linked with a potential bid for the Dublin and Athlone-based maker of the international multiple sclerosis treatment Tysabri.

Elan has remained tight-lipped over speculation doing the rounds.