News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

Elan Corporation PLC (ELN) to Close Pennsylvania Site Ahead of Unit Sale to Alkermes (ALKS), Terminating 104 Jobs


7/14/2011 6:39:00 AM

Elan Corp. PLC (ELN) plans to close a suburban Philadelphia facility employing at least 104 people, a move Elan says is related to the $960 million deal to sell its drug-technology unit to Alkermes Inc. (ALKS). Dublin-based Elan, which co-markets the multiple-sclerosis drug Tysabri with Biogen Idec Inc. (BIIB), said it will close its King of Prussia, Pa., site by the end of September and transfer current projects and technology capabilities to other locations. e decision to close the site followed a "comprehensive review" of the combined businesses of Alkermes and Elan Drug Technologies, said Niamh Lyons, an outside spokeswoman for Elan.

Read at Nasdaq
Read at Barron's Online


comments powered by Disqus
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES