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Amylin Pharmaceuticals, Inc. Message Board

  • terry_amln terry_amln May 9, 2011 8:47 AM Flag

    Alkermes merges with ELN

    .Press Release
    Printer-FriendlyEmail this pageRSS FeedsEmail Alerts.Alkermes to Merge with Elan Drug Technologies to Create Alkermes plc
    -- Creates a Leader in CNS Therapeutics with Growth Driven by Five Major Commercial Products and Proprietary Product Pipeline --
    -- Transaction Immediately Accretive to Cash Earnings; Alkermes plc to be Immediately Profitable on a Cash Basis with Growing Revenues in Excess of $450 Million Annually --
    -- Transaction Valued at Approximately $960 Million, with Elan to Receive $500 Million Cash and 25% Equity Stake in Alkermes plc --

    WALTHAM, Mass. & DUBLIN, May 09, 2011 (BUSINESS WIRE) -- Alkermes, Inc. (NASDAQ: ALKS) and Elan Corporation, plc (NYSE: ELN) today announced the execution of a definitive agreement under which Alkermes will merge with Elan Drug Technologies (EDT), the profitable, world-class drug formulation and manufacturing business unit of Elan, in a cash and stock transaction currently valued at approximately $960 million. Alkermes and EDT will be combined under a new holding company incorporated in Ireland. This newly created company will be named Alkermes plc.