Elan Corporation PLC Reports Third Quarter 2012 Financial Results

Published: Oct 24, 2012

DUBLIN--(BUSINESS WIRE)--Elan Corporation, plc today reported its third quarter and first nine months 2012 financial results. “The third quarter was an active one for Elan on a number of fronts.” said Mr. Kelly Martin, chief executive officer. “We announced the proposed spin-off of our discovery research activity into Neotope Biosciences with Dr. Dale Schenk as the chief executive officer. Neotope will operate as a separate entity upon completion of the transaction, which is targeted to close by year end 2012. We named Hans Peter Hasler as the chief operating officer of Elan. Hans Peter brings significant industry experience and will be involved with all aspects of Elan, both strategically and operationally. Lastly, we strengthened our income statement and balance sheet by successfully refinancing our bonds in October.”

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