ATHLONE-BASED pharmaceutical company Elan has been assigned a hold recommendation

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.

ELAN is on course to make losses of €844.8 million this year, according to Davy Stockbrokers who do not expect the company to return to profitability in 2003.

EMBATTLED pharmaceutical firm Elan Corp has put its three anti-infective drugs up for sale but is unlikely to conclude a deal before the end of the year, sources close to the situation are saying.

THE ISEQ share index ended 1% lower at 4,186.8 points yesterday in scant trade due to a national holiday.