Tuesday November 24, 2020

Elan plans $1 billion share repurchase

UPDATE: Elan has announced plans to use $1 billion from the proceeds of the sale of its stake in MS drug Tysabri to buy back its own shares, the company said today.

22nd February, 2013
Elan

Elan has announced plans to use $1 billion from the proceeds of the sale of its stake in MS drug Tysabri to buy back its own shares.

Its shares rose on the news, gaining 4.2 per cent in Dublin at 8.30 am.

"This enables a significant portion of the unlocked value of Tysabri to be returned to shareholders directly," Elan said.

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