This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Elan Announces Plan To Spin-Off Discovery Science And Neotope Biosciences To Shareholders

Elan Corporation plc Profile

  • Immediately profitable and high growth company
  • Headquartered in Dublin, Ireland
  • 2011 revenues of $1.2 billion; 2011 GAAP Operating Expenses of $403 million
  • Post transaction GAAP Operating Expenses of ~ $300 million
  • 2013 post a successful spin-off transaction estimated EBITDA in excess of $400 million and estimated Net Income in excess of $250 million; and targeting $1.00 earnings per share for our shareholders by 2015, with the new business construct
  • Corporate tax of 12.5%; more than $4 billion in accumulated losses and other structures for after tax EPS incremental returns and stakeholder benefits
  • ELND005 with Phase 2/Phase 2b in several neurology and neuropsychiatry symptomatic indications
  • Leadership:
  • Chairman: Robert A. Ingram
  • Chief Executive Officer: Kelly Martin
  • Employees: approximately 90 – 110 people
  • Equity interests in Janssen AI - AIP Programs, Alkermes plc, Proteostasis Therapeutics, and Neotope Biosciences

Neotope Biosciences plc Profile
  • Drug discovery company focused on translating distinct targets into therapies for chronic degenerative and other related diseases
  • Incorporated in Ireland with operations in South San Francisco, California
  • Key targets: synuclein, tau, MCAM, amyloid for application to a wide variety of diseases
  • Potential for three INDs by 2015
  • Expected cash spend of $50 - $60 million per annum
  • Leadership:
    • Chairman: Dr. Lars Ekman
    • Chief Executive Officer: Dr. Dale Schenk
  • Employees: approximately 80 people
  • Elan Corporation plc to commit $120-$130 million start-up capital and to retain 14 - 18% minority equity position


The transaction is subject to a number of conditions, including approval by shareholders and the holders of the 2016 Notes.

4 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs