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Elan is to sell Elan Drug Technologies, its drug formulation business, to Alkermes of the US for £590m.

Elan is to sell its European sales and marketing business to Medeus UK, a new pharmaceutical company backed by Apax Partners, for £66m.

Elan has acquired Dura Pharmaceuticals of the US for £1.25bn, in order to strengthen its sales force and product portfolio in North America.

Elan is seeking acquisitions to build up a salesforce in Germany and France, as part of a strategy to expand its pharmaceuticals business throughout Europe.

Elan Corp of Ireland has acquired Neurex, the Californian developer of acute care drugs, for $700m.

Elan of Ireland has announced a $600m merger with Athena Neurosciences, the Californian biotechnology concern.