Elan investigates the spin-out of public drug delivery unit
Dublin – Irish neuroscience specialist Elan Corporation plc has announced it is investigating the option of spinning out its Elan Drug Technologies business, creating two publicly listed enterprises. Elan is currently assessing the impact of such a transaction on shareholder value. The profitable company’s review will include detailed assessment of the possible separation, including timing, market conditions and the impact on all of its key constituencies. The Company expects to make its decision in the coming months, with no specific timetable set for completion of the review and there has been no confirmation from Elan that such a transaction will take place.