Elan shareholders agree to sell Abelcet rights

Elan's shareholders have approved the sale of its US, Canadian and any Japanese rights to Abelcet, its injectible antifungal agent, to Nasdaq-quoted Enzon at an extraordinary general meeting today.

The Irish biopharmaceutical giant will receive a cash payment of $370m (€366m) for the rights, but will retain the existing rights outside of the US, Canada and Japan.