Elan Completes Sale of Elan Drug Technologies
Date: 09/16/11
Cahill advised neuroscience-based biotechnology company Elan Corporation in connection with the sale of Elan Drug Technologies, the drug formulation and manufacturing business unit of Elan, which was combined with Alkermes Inc. under a newly formed company Alkermes plc, which is incorporated in Ireland and headquartered in Dublin. The cash and stock transaction was valued at approximately $1 billion. Elan received $500 million in cash and 31.9 million ordinary shares of Alkermes plc, representing approximately 25% of Alkermes plc.