Elan Corporation, the Irish pharmaceutic...

Wed, 10 Dec 2003

Elan Corporation, the Irish pharmaceuticals firm, yesterday admitted it is in talks to sell the bulk of its European operations in a transaction that could raise up to $200m (£115m). The division up for auction is primarily the sales and marketing operations in the UK, France, Italy and Spain, which together employ about 200 people and have revenues of $110m. Research and development operations are understood to be excluded from the sale.