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Royalty Pharma says committed to aquiring Elan on previous terms

RP Management, or Royalty Pharma, remains committed to acquiring Elan on the terms set out in the Proposal Announcement of February 25, but continues to be disappointed that the Board of Elan has not engaged in discussions. Royalty Pharma is ready and able to move quickly to implement an offer and believes that it will be able to complete due diligence in 20 days.Royalty Pharma announces today that it is meeting with a number of Elan Shareholders to discuss the Proposal. Royalty Pharma believes that the pre-conditions to its Proposal, as stated in full in the Proposal Announcement, can easily be satisfied or waived once it is given access to due diligence. Royalty Pharma is ready to move quickly and has the required financial strength to complete the Possible Offer. Royalty Pharma believes that it will be able to complete its required due diligence within 20 days of being provided the necessary access to due diligence materials. Accordingly, Royalty Pharma believes Elan Shareholders should urge the Board of Elan to engage with Royalty Pharma and grant the required access to allow an offer to be pursued expeditiously.