Elan Corporation, plc announced that it is retaining NanoSystems, Elan’s drug delivery business based in King of Prussia, Pennsylvania; Elan’s drug delivery business and operations located in Gainesville, Georgia; and Elan’s US acute care business, which includes the hospital care products Maxipime and Azactam. Elan believes that these businesses are value generating and provide opportunities for revenue growth and key technological capabilities.
Kelly Martin, Elan president and chief executive officer, said, “As we enter the final stages of our recovery plan, retaining these profitable businesses gives us strategic flexibility and the opportunity to optimize their value moving forward.”
Elan is focused on the discovery, development, manufacturing, sale and marketing of novel therapeutic products in neurology, severe pain and autoimmune diseases. Elan shares trade on the New York, London and Dublin Stock Exchanges.