Elan expected to announce job losses

The Elan pharmaceutical giant is expected to announce 200 job losses in Ireland as part of a statement on the company’s future later today.

Elan employs around 1,000 people in Ireland, 800 of them in Athlone, with the rest in Dublin.

The company’s share price recently collapsed following criticism of its accounting practices in the US and an investigation of the firm by the US Securities and Exchange Commission.