Elan started off as a private ltd. company and went on to become a public ltd company in the year 1984.
Popular biotech products
Elan is dedicated to produce and develop drugs for treating diseases like Alzheimer’s and bipolar disorders. The products developed for treating this disease condition is ELND005 which is basically a β amyloid anti – aggregation agent. The effectiveness of this molecule was studied in patients with Alzheimer’s and bipolar disorder I and its efficacy proved. The drug was also tested on patients with Down syndrome.
It has been recommended that individuals with Alzheimer’s disease should take drug in dosage of 250mg daily twice.
Tysabri is a drug that is marketed by two firms. Earlier it was named as antregan which is indicated in conditions of multiple sclerosis and Crohn’s disease.
Amongst the various discoveries, the firm has made several notable contributions in the field of neurology for treating patients with neurological disorders. Of the several discoveries, of late the firm is working to develop a vaccine called ACC-001 for Alzheimer’s disease. It has also developed AAB-003 monoclonal antibody as a part of Alzheimer’s immunotherapy program.
Elan Corporation is also conducting extensive research to study the Parkinson’s disease. It is in the process of developing therapeutic drugs for this disease. The firm together with Wyeth is conducting Phase III clinical trials for the drug bapineuzumab.
Recent company takeovers
Elan Corporation understands and recognizes the importance of collaborations and affiliations with several firms. Partnerships not only help in widening the business prospects but also helps in conducting quality research.
In the year 2013, the firm decided to give away the right to sell the drug Tysabri to Biogen Idec. The deal was worth about $ 3.25 billion.
Elan has also joined hands with Wyath for conducting the phase III clinical trials for bapineuzumab. However, the results for this drug for the previous two phases were non – conclusive, but Elan is hopeful that this drug can be effective for treatment of Alzheimer’s disease.
Recent corporate news
Elan Corporation is traded in the shares of New York as well as Irish stock exchanges. The firm holds about 49.9% equity interest in Janssen Alzheimer Immunotherapy and will also receive 49.9% share of profits. The firm is also entitled to receive royalty payments for commercialization of AIP products.
Elan also receives royalty on in – market sales of the drug Tysabri. In the year 2010, the firm was fined $203m for marketing of epilepsy drugs.
The work culture at Elan Corporation is very dynamic and positive. The people of Elan believe in science and work with the faith, that with their knowledge and hard work they can certainly make a difference in the lives of patients living with several disease conditions.
Elan is forever on the lookout for individuals who are vibrant and full of energy. Individuals who are ready to undertake any challenges for creating a better and disease free living world. The working environment of this firm is very unique and offers its employees an opportunity to grow and achieve the impossible.
The firm is a good paymaster and also rewards its employees for their outstanding performance. Not just this, the firm also has special provisions for its employees such as life insurance, health insurance that covers both dental and vision related issues, disability benefits, assistance for educational purposes, flexible spending accounts, annual paid time off, employee stock purchase plan, referral incentives and retirement plans.
Elan Corporation with its constant development and innovations is constantly in the news. The current year has indeed been an eventful year for this firm. Following is a list of interesting events that have taken place.
• In the month of September, the firm announced the initiation of dosing of Scyllo inositol in patients with Down syndrome.
• The firm reported the second quarter of financial results.
• The firm was awarded injunction against the Royalty Pharma.
• The firm entered into a partnership with Theravance Royalty participation agreement worth $ 1 billion.
• The firm also provided update on the drug Tysabri transaction and $1 bn shares.
• Earlier in this month, the firm along with Biogen Idec submitted applications for use of Tysabri in Anti – JCV antibody negative patients with multiple sclerosis.
In addition to these, the firm also took active participation in the following events:
• Elan Perrigo Joint Conference Call.
• Q2 2013 Elan Corporation, PLC earnings conference call
At present there are no recent openings.