Elan attracts new bidders

City A.M. Reporter
ELAN yesterday rejected the latest $8bn takeover approach from investment firm Royalty Pharma, adding that a number of mid-sized drug companies are also sizing up offers.

Irish group Elan, which has spent three months dismissing Royalty’s interest, said for the first time that it was assessing enquiries from other parties. It has instructed its advisers at Citigroup to weigh up the recent unsolicited enquiries.