IRISH pharmaceutical group Elan has kept its positive full-year guidance unchanged, despite posting a third-quarter net loss of $43.6 million (€31.6m).

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 has shelved plans to spin-off its Athlone-based drug delivery business EDT due to negative market conditions.

KELLY MARTIN is to stand down as chief executive of Elan in two years’ time, meaning that the drug company will by then have a new head and chairman in place to guide its next stage of development.

Elan CEO Kelly Martin is to leave the pharmaceutical giant in two year’s time, it was announced today.

A DECISION regarding the future status of Elan’s drug-delivery business – Elan Drug Technologies (EDT) – may not be made until next year.

IRISH pharmaceutical company, Elan is re-examining the possibility of separating its Athlone-based Elan Drug Technologies (EDT) business from the main group.

ELAN’s share price rose yesterday despite the report of another case of the rare brain disease PML, a potential side-effect of the multiple sclerosis treatment, Tysabri.

POSITIVE second quarter results from Elan have supported recent claims made by the company’s management that the business is on the road to recovery.

MANAGEMENT at Irish pharmaceutical company Elan has re-iterated to shareholders that the |firm should be profitable by the end of next year, adding that the business had effectively turned the corner.

MANAGEMENT at the Dublin-headquartered pharmaceutical company, Elan have ceased using private jets to get to meetings in the US after investors reacted angrily to revelations that senior executives racked up a $6 million (€4.6 million) jet hire bill.

FIELDS, the Dublin-based jewellers, is expanding into the British market with the takeover of the 31-store Fraser Hart Group.

Elan Corporation announced yesterday, Dr Floyd Bloom, a neuro- scientist, and Jeff Shames, a retired chairman and chief executive officer of MFS Investment Management (MFS), will become new non- executive members of the board, from July 1.

Elan Corporation today announced a number of changes to its board of directors.

THE National Roads Authority will have to pick up the bill for a new section of Luas that will have to be built as part of a €244 million project to upgrade an 8km stretch of the M50.

ELAN is to enter into talks to settle a lawsuit taken against the company by the family of a woman who died after taking its multiple sclerosis drug Tysabri.

Pharmaceutical company Elan has appointed five new members to the company's board of directors.

SHARES in Elan gained as much 26% yesterday as hopes for the relaunch of the company’s multiple sclerosis treatment increased.

THE chief executive of Elan waived his annual bonus, worth about $900,000, last year, it emerged yesterday.

GARO ARMEN, the chairman of drug company Elan, has stepped down from the position he was parachuted into when the company hit serious problems with the New York Stock Exchange in 2002.

Ireland-headquartered pharmaceutical company Elan has announced the resignation of Garo Armen as chairman of the board.

THREE Irish banks that promised financial support if Denis O’Brien’s Esat Digifone won the country’s second mobile phone licence expressed their concern at the way financier Dermot Desmond came on board, the Moriarty Tribunal heard yesterday.

THE company that owns the Fields of Dublin chain of upmarket jewellery shops saw its profits rise by 19% to €4.1 million in 2002.

FINANCIER Dermot Desmond “gave us what we wanted” when he agreed to underwrite 60% of Esat Digifone, former consortium non-executive director John Callaghan told the Moriarty Tribunal yesterday.

ELAN shares have been given an "avoid" rating by Merrion Stockbrokers in the wake of the company's global conference call to investors yesterday when plans to raise €1 billion in an asset sell-off were unveiled.