Elan: Other firms are showing interest
The Dublin-based biotech company said it has instructed its advisers — which include Davy Corporate Finance, A&L Goodbody, Citigroup and Morgan Stanley — to assess all expressions of interest that reflect “the intrinsic value” of the company.
That statement formed part of the company’s formal rejection yesterday of the latest revised takeover approach from Royalty Pharma. The rejection said Royalty “continues to grossly undervalue” the anticipated future royalty stream due from Tysabri, the multiple sclerosis treatment out of which Elan recently sold out.
