Elan Corporation, plc
Élan Corporation plc (NYSE: ELN) is a major drugs firm based in Athlone, County Roscommon, Ireland which has major interests in the United States. In the late 1990s its value on the Irish Stock Exchange reached over €20bn. It has secondary listings on the London Stock Exchange and the New York Stock Exchange. It was one of Ireland's major business success stories. However in the early years of 2000's an accounting scandal and investor reactions to the global slump, caused a major devaluation resulting in a share price slump of over 90%. Since then the company has regained its growth path under the reign of a new American CEO Kelly Martin. Élan employs over 2,000 people worldwide. It is listed on the New York Stock Exchange as ELN, the Irish Stock Exchange as ELN.I, and the London Stock Exchange as ELN.L. Reformulations for client-based projects has contributed to more than $9 billion in in-market sales for these clients. Currently more than 2.5 million patients take Élan's products worldwide.
In July 2010, Elan was fined $203m for its marketing of epilepsy drugs. Despite the controversy surrounding Elan, the company reported a 10% rise in Profits during the first half of 2010
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