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This excerpt taken from the ELN 6-K filed Mar 30, 2009. Arrangements
with Former Directors
On 1 July 2003, we entered into a pension agreement with
Mr. John Groom, a former director of Elan Corporation, plc,
whereby we paid him a pension of $200,000 per annum, monthly in
arrears, until 16 May 2008 in respect of his former senior
executive roles. Mr. Groom received total payments of
$75,556 in 2008 and $200,000 in 2007.
On 25 February 2009, we announced a postponement of our
biologics manufacturing activities, a strategic redesign and
realignment of the research and development organisation within
our Biopharmaceuticals business, and a reduction in related
support activities. These adjustments will result in a reduction
in our global workforce of approximately 230 positions, or 14%
of our total workforce. We expect to reassess the opportunity to
invest in a biologics manufacturing facility and restart our
related fill-finish activities after we have had the opportunity
to evaluate the data from the Phase 3 trials of bapineuzumab in
Alzheimer’s disease. Severance and related charges are
expected to be approximately $15 million and will be
recorded as a charge in the first half of 2009.
On 6 March 2009, we entered into an agreement with Watson
Pharmaceuticals settling litigation with respect to
Watson’s marketing of a generic version of Naprelan.
As part of the settlement, Watson stipulated that our patent at
issue is valid and enforceable and that Watson’s generic
formulations of Naprelan infringed our patent. In
connection with the settlement, we received $18 million from
Watson in March 2009, and the amount will be recognised in our
2009 Consolidated Financial Statements.
This excerpt taken from the ELN 20-F filed Feb 26, 2009. Arrangements
with Former Directors
This excerpt taken from the ELN 6-K filed Mar 31, 2008. Arrangements
with Former Directors
On 1 July 2003, we entered into a pension agreement with
Mr. John Groom, a former director of Elan Corporation, plc,
whereby we shall pay him a pension of $200,000 per annum,
monthly in arrears, until 16 May 2008 in respect of his
former senior executive roles.
On 14 January 2008, the FDA approved Elan and Biogen
Idec’s sBLA for Tysabri for CD. Tysabri is
now approved for inducing and maintaining clinical response and
remission in adult patients with moderately to severely active
CD with evidence of inflammation who have had an inadequate
response to, or are unable to tolerate, conventional CD
therapies and inhibitors of TNF-alpha.
This excerpt taken from the ELN 20-F filed Feb 28, 2008. Arrangements
with Former Directors
This excerpt taken from the ELN 6-K filed Mar 30, 2007. Arrangements
with Former Directors
This excerpt taken from the ELN 20-F filed Feb 28, 2007. Arrangements
with Former Directors
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