| 7.9°C Dublin

Drugs firm in buy-out

PHARMACEUTICAL giant Elan has announced two acquisitions in the fields of rare diseases.

The company has signed a deal to buy Austrian rare-drug specialist AOP Orphan for €263.5m and pay $40m (€31m) for a 48pc stake in Dubai-based sales and marketing firm Newbridge pharmaceuticals.

It announced a share buyback and debt offering yesterday.