Elan Tries To Transform With Three New Deals; Wall Street Still Skeptical
This article was originally published in The Pink Sheet Daily
Executive Summary
In its continuing effort to spend its way into becoming a diversified pharma, Elan announced a new trio of deals. Some liken its geographically diverse, specialty pharma strategy to that of highly successful Valeant, but Wall Street remains unsure that Elan can execute. Hostile bidder Royalty Pharma took the opportunity to further tempt shareholders by raising its offer.