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ELN.N

ISIN: US2841312083
SEDOL: 2307237

Rating:

BUY

Target Price:

6.70 USD

Investment Horizon:

6 to 12 months
23rd Jul 2009 View Report   Download

2Q 09 News Alert

Elan Corporation PLC. (Elan) reported strong y-o-y growth in 2Q 09 revenues, associated with higher sales of Tysabri during the quarter. Hence, although the ADR target price does not support a BUY rating at current price levels, based on better than anticipated revenue growth and the recent agreement with Johnson & Johnson Ltd. (J&J;), we maintain our BUY rating for the ADR. We will reassess our target price and rating in our 2Q 09 update report....

3rd Jul 2009 View Report   Download

Company News Alert

On 02 July 2009, Johnson and Johnson Ltd.(J&J;) announced the acquisition of Elan corporation PLC's (Elan) assets related to the development of drug used for treating neurodegenerative conditions. Moreover, Elan is receiving an investment of US$1 bn for its rights and assets and will also receive a share in future profits and royalty revenues from the commercialisation of those drugs. With this development, we now hold a positive outlook…

8th Jun 2009 View Report   Download

Company News Alert

Elan Corporation PLC's (Elan) ADR experienced a significant increase of 21.2% since our 1Q 09 update report to close at US$8.36 on 05 May 2009, primarily due to rumors associated with Pfizer Inc's (Pfizer) bid to acquire Elan, coupled with a strong increase in the broader market index. However, we do not expect a significant fundamental impact on Elan until further details on the possible acquisition by Pfizer are released by the company....

11th May 2009 View Report   Download

1Q 09 Update Report

In 1Q 09, negative concerns resurfaced from death cases associated with the use of Tysabri, continuing to limit the drug's growth prospects. Elan and its partner; Biogen Idec Inc. (Biogen), are attempting to overcome the concerns over the drug by promoting awareness for Tysabri's use. Elan is educating physicians for early detection and management of Progressive Multi-focal Leukoencephalopathy…

5th May 2009 View Report   Download

Company News Alert

Elan Corporation PLC’s (Elan) ADR experienced a significant increase of 19.9% in a single trading session to close at US$7.06 on 04 May 2009, primarily due to general increase in broader market index, coupled with study results reporting positive data of Tysabri’s efficacy on multiple sclerosis (MS). We believe the positive study data will have a significant positive impact on Tysabri sales over the medium term....