Chief downplays talk of ‘dolling-up’ business

Management at Irish drug company Elan has downplayed talk of the business being “dolled-up” as a potential acquisition target.

“If someone thinks we’re an attractive business model, then so be it. We don’t worry about being seen as a takeover target. We worry about controlling what we can control and running the business.”

So said Elan’s chief executive, Kelly Martin, yesterday, on a media conference call formally announcing the company’s plan to separate its drug discovery business from its core growth-orientated commercial drug unit.