Sunday 17 December 2017

Investors expecting miracle cures swallowed bitter pills

Thomas Molloy

THE $203m fine imposed on Elan is almost certainly the largest fine ever imposed on an Irish company but then few Irish companies get under-aged children to consume their drugs without approval and encourage doctors to hide the drugs in apple sauce.

Under the agreement reached with the US Justice Department, Elan will pay a criminal fine and admit to misbranding epilepsy treatment Zonegran but few shareholders can be surprised at this stage; Elan is one of those companies that just keeps on tripping up.

Back in 2001, Elan had the distinction of being the biggest company on the stock exchange with a value of €23.8bn amid hopes that it was set to develop treatments for Alzheimer's and multiple sclerosis.

Please sign in or register with for free access to Opinions.

Sign In

Promoted Links

Today's news headlines, directly to your inbox every morning.

Don't Miss