As much as $2bn (€1.5bn) could be wiped off Elan’s market value if its shareholders reject US firm, Royalty Pharma’s takeover advances next week, brokers have claimed.

The High Court has discharged an injunction obtained by biotech group Elan aimed at preventing two of it's directors from using US courts to launch with it claimed was an unauthorised review of corporate governance at the company.

THE two “dissident” directors at the heart of the recent boardroom dispute at Irish pharmaceutical firm Elan are to leave their posts — resolving the row.

Elan directors Vaughn Bryson and Jack Schuler have agreed to suspend their Irish High Court proceedings against the drugs company and resign from the board.