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Article: Through Long Recovery, Elan Shifts From Pharma To Biotech.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Staff Writer
As a flood of investor mistrust rose around Elan Corp. plc in 2002 - nearly drowning the Irish company - officials figuratively stood on the rooftop and contemplated a choice. They could hold tight to their worldly possessions of joint ventures and pharmaceutical products and sales forces, while the cold waters of suspicion and debt encompassed them. Or they could shed themselves of some fatal weight and reach for the dangling rescue ladder, taking with them only their most valuable assets, including a biotech pipeline.
The Dublin-based company just now is regaining its reputation on The Street, and today raised eyebrows of investors ...
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