People seem to focus on the price ELN gets for the assets sold. However, non-performing, or even non-strategic assets have other costs. By closing offices and selling off drugs with weak sales, they're saving alot of overhead. Sales peoples are extremely expensive. I know since I'm in the field.
The sale of the European sales operation and these most recent assets in Europe make sense not only from the gain on sale of assets perspective; but the reduction of expense that you mention.
My hope, expectation, desire, requirement (?) is that at the next conference call, Km spend some time explaining HOW Elan plans to sell drugs in Europe. Once we know and can see the logic, it will help us and any and all analysts that keep trying to see the method behind the steps taken.
If the analysts don't raise that question at the CC, you know they have done it off line in a one on one. Us little investors need to know also.