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Friday 1 August 2014

Elan's $8bn makeover

Published 20/12/2013|00:15

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BioMarin, which bought the former Pfizer plant at Shanbally, Co Cork, for €38m last year, was stunned to see 1,000 hopefuls turn up at a careers day. Photo: Thinkstock

ELAN is set to formally disappear from the business world after its takeover by a US pharmaceuticals firm was completed.

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The deal, which values Elan at $8.6bn (€6.2bn), will create what Perrigo said would be a "global healthcare company with an industry-leading growth profile and the geographic scale and scope to continue building a truly differentiated business".

The two firms have been combined under a new name -- Perrigo Company Plc. Perrigo chairman and chief executive Joseph C Papa said that combined company establishes a diversified platform that will position Perrigo well for further expansion.

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