Article: Through Long Recovery, Elan Shifts From Pharma To Biotech.

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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