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Elan Sells Remaining Alkermes Stake

Will no longer own shares of the former EDT business

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Elan Corp., through its wholly-owned subsidiary, Elan Science Three Ltd., agreed to sell its remaining 7,750,000 shares of Alkermes plc. The sale is expected to close on February 6, 2013.
 
In September 2011, Elan’s Drug Technology (EDT) business was combined with Alkermes, and Elan received 31,900,000 shares in the newly created Alkermes. In March 2012, Elan sold 24,150,000 shares of Alkermes in a public offering. After the closing, Elan will no longer own any shares of Alkermes.

Alkermes Contract Pharma Services, part of Alkermes plc, provides product development scale-up and manufacturing services to the pharmaceutical market.

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