Sunday September 20, 2020

Elan announces date for drug business demerger

Drug firm Elan announced December 14th as the date it will separate out a substantial portion of its drug discovery business into a new independent, publicly traded company.

6th December, 2012
Elan's production facility in Athlone.

Drug firm Elan announced December 14th as the date it will separate out a substantial portion of its drug

discovery business into a new independent, publicly traded company, Prothena Corporation.

The separation will be effected pursuant to a demerger under Irish law at 11.59pm on that date. The demerger is dependent upon regulatory approval from the Securities and Exchange Commission and shareholder approval. An extraordinary general meeting of Elan shareholders scheduled to occur next Wednesday,...

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