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Élan Corporation plc (, ) is a major drugs firm based in Athlone, County Westmeath, Ireland. In the late 1990's its value as a PLC on the Irish Stock Exchange reached over €20bn. It has secondary listings on the London Stock Exchange and the New York Stock Exchange. It was one of Ireland's major business success stories. However in the early years of 2000's an accounting scandal and investor reactions to the global slump, caused a major devaluation resulting in a share price slump of over 90%. Since then the company has regained its growth path under the reign of a new American CEO Kelly Martin.
Today, Élan still employs over 2,000 people worldwide. It is listed on the New York Stock Exchange as ELN, the Irish Stock Exchange as ELN.I, and the London Stock Exchange as ELN.L.
Élan is currently focusing its research on a ground-breaking drug for Alzheimer's disease.
On 28th February 2005, Élan announced that it was withdrawing its Tysabri drug, after reports that a patient died after usage. This led to its share price dropping by 70%.
3/8/2006 FDA Advisory Committee Unanimously Recommends Reintroduction of TYSABRI® for the Treatment of Relapsing Forms of Multiple Sclerosis
The crash in the company led to a number of senior executives leaving the company over the period 2000-2004 led to a number of smaller pharmaceutical companies being set up. One of these is Amarin Corp PLC, a small drug company listed on Ireland's IEX(Irish Enterprise Exchange).
See also
External links
Companies of Ireland | Companies listed on the Irish Stock Exchange | Companies listed on the London Stock Exchange | Companies listed on the New York Stock Exchange
"Élan"