Following Elan's announcement that it will delay filing it's annual report, its shares have lost more than 25% of their value this morning.
At 9.30am shares were down to €4.60, a drop of €1.60, with nearly 300,000 shares traded.
President and Chief Executive Kelly Martin has said that the company is looking into "all available options" to resolve the debate and deal with the impact of this on the outstanding debt.