Elan to retain drug delivery and acute care business
Elan corporation has announced it is retaining NanoSystems, its drug delivery business based in Pennsylvania, its drug delivery business and operations in Georgia, and its acute care business, which includes hospital products Maxipime and Azactam.
The pharmaceutical company said in a statement that it views these businesses as value-generating and that they will provide opportunities for revenue growth and key technological capabilities
Elan President and CEO Kelly Martin said: "As we enter the final stages of out recovery plan, retaining these profitable businesses gives us strategic flexibility and the opportunity to optimize their value moving forward".
Elan last week announced that it was in talks with a third party on the sale of some of its European operations, mainly in sales and marketing. The company said Ireland's operations would not be affected.
