EUROPEAN private equity house Cinven has reportedly ended any interest it had in acquiring Irish pharmaceutical company Elan’s drug research arm, Elan Drug Technology (EDT), which is currently being hawked around the market for potential buyers.

TWO former Elan executive directors, who resigned last year when the company was besieged over its accountancy policies and the share price fell dramatically, are still receiving full pay, sharing a €2.17 million pay package in 2002.

A GAIN for the ISEQ index for a fourth consecutive day was not to be, as the market fell 5.74 points to 4183.22.

Elan Corporation has announced that G Kelly Martin, 43, has been named president and chief executive officer of the company by unanimous vote of its board of directors.