Elan sells remaining stake in Alkermes
Following the close of trading today, Elan’s wholly-owned subsidiary, Elan Science Three, agreed to sell, on customary terms, all of its remaining 7,750,000 ordinary shares of Alkermes through Jefferies & Company pursuant to Rule 144 under the U.S. Securities Act of 1933. The sale is expected to close on February 6, 2013.
In September 2011, upon the combination of Elan's Drug Technology (EDT) business with Alkermes, Elan received 31,900,000 ordinary shares in the newly created Alkermes. In March 2012, Elan sold 24,150,000 ordinary shares of Alkermes in an underwritten public offering. After the closing, Elan will no longer own any ordinary shares of Alkermes.
Elan is a neuroscience-based biotechnology company committed to innovations in science to fill significant unmet medical needs. Elan shares trade on the New York and Irish Stock Exchanges.