Claim Forest mulling Elan bid

Forest Laboratories, the speciality drugmaker that counts investor Carl Icahn as a major shareholder, is among a handful of companies interested in bidding for Irish biotech firm Elan, sources claim.

Elan, which has a market capitalisation of nearly $7bn (€5.2bn), put itself up for sale last week in an effort to fend off a hostile offer from US investment firm Royalty Pharma.

Forest is among several mid-sized drugmakers considering an offer for Elan, sources said, although details of the auction have not been made public.