Elan said the announcement marked the formal conclusion of its recovery plan, which was announced in July 2002; involved the restructuring of its businesses, assets and balance sheet; and resulted in divestiture proceeds of more than $2 billion, ahead of the target of $1.5 billion.
Kelly Martin, Elan president and CEO, said, "The success of our recovery plan returns Elan to a position where the focus is on our people, our science and our commitment to patients. We are excited about optimising our science and business plans, creating value for our shareholders, and focusing on therapies that will help millions of patients and their families."
