Élan Corporation

From Wikicompany

Élan Corporation plc is an Irish drugs company.

Élan employs about 2,000 people.

Products

• Tysabri (natalizumab) - Treatment of chronic pain
• Azacactam (aztreonam for injection, USP) - Treatment of infections caused by gram-negative organisms.
• Maxipime (cefepime hydrochloride for Injection) - Treatment of several infections.

Élan is currently focusing its research on a drug for Alzheimer's disease.

Key people

• Kelly Martin, President & CEO
• Paul Breen, Global Services & Operations
• Richard T. Collier, General Counsel
• Shane Cooke, Chief Financial Officer
• William Daniel, Company Secretary
• Lars Ekman, Global R&D and Corporate Strategy
• Jack Laflin, Global Core Services
• Ivan Lieberburg, Chief Medical Officer

History

In the late 1990s its value as a PLC on the ISEQ Stock Exchange reached over €20bn. It was one of Ireland's major business success stories.

However in the early years of 2000s 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.

On 28th February 2005, Élan announced that it was withdrawing its Tysabri drug, after reports that a patient died after usage. This drug was aimed as treatment for relapsing forms of multiple sclerosis to reduce the frequency of clinical relapses. This has led to its share price dropping by 70%.

External links

• Élan Corporation local offices