Elan seeks to rebuild its asset portfolio
The company’s management told analysts yesterday that it has held a number of discussions with companies and will finalise some of these discussions in the near future. The Dublin-based biotechnology firm has been looking at a number of options ranging from asset purchases, investments and/or company acquisitions.
The money — in cash and cash equivalents — is largely as a result of the sale of its 50% stake in leading multiple sclerosis drug, Tysabri, and a $1bn share buyback programme and gives Elan “substantial capacity to execute on transactions to diversify our business and grow shareholder value”.
