Elan Sells Its Remaining Stake in Alkermes

Thu Jan 31, 2013 4:29pm EST

* Reuters is not responsible for the content in this press release.

http://pdf.reuters.com/htmlnews/8knews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20130131:nBw316649a

DUBLIN--(Business Wire)--
Elan Corporation, plc ("Elan") (NYSE: ELN) announced that, following the close
of trading today, Elan, through its wholly-owned subsidiary, Elan Science Three
Limited, agreed to sell, on customary terms, all of its remaining 7,750,000
ordinary shares of Alkermes plc ("Alkermes") (NASDAQ: ALKS) through Jefferies &
Company, Inc. pursuant to Rule 144 under the U.S. Securities Act of 1933. The
sale is expected to close on February 6, 2013. 

In September 2011, upon the combination of Elan`s Drug Technology (EDT) business
with Alkermes, Inc., Elan received 31,900,000 ordinary shares in the newly
created Alkermes. In March 2012, Elan sold 24,150,000 ordinary shares of
Alkermes in an underwritten public offering. After the closing, Elan will no
longer own any ordinary shares of Alkermes. 

About Elan

Elan Corporation, plc is a neuroscience-based biotechnology company committed to
making a difference in the lives of patients and their families by dedicating
itself to bringing innovations in science to fill significant unmet medical
needs that continue to exist around the world. Elan shares trade on the New York
and Irish Stock Exchanges. For additional information about the Company, please
visit www.elan.com. 

###

Elan Corporation, plc
Investor Relations
Chris Burns, 800-252-3526
David Marshall, + 353-1-709-4444
or
Media Relations
Emer Reynolds, + 353-1-709-4022
Jonathan Birt, +44-751-559-7858 

Copyright Business Wire 2013