Elan's tax assets will be worth billions to whoever wins the bidding process that the drug company opened last month after fending off a hostile bid from Royalty Pharma.
The company's chief financial officer, Nigel Clerkin, told analysts on a conference call after the group's interim results last Wednesday that Elan had more than $2 billion in deductions, which would allow it to earn tax-free royalties on Tysabri, the multiple sclerosis drug it spun off...
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