Elan Welcomes Irish Takeover Panel Statement

DUBLIN--(BUSINESS WIRE)--The Board of Elan Corporation, plc (NYSE:ELN) (the Company) welcomes this morning's imposition by the Irish Takeover Panel of an expected May 10, 2013 deadline on Royalty Management LLC (Royalty Pharma) (following their original indication of interest announcement of February 25, 2013) by which Royalty Pharma must either announce an offer for Elan under Rule 2.5 of the Irish Takeover Rules or announce that it will not proceed with an offer for Elan. Elan’s focus remains on implementation of its stated strategy, particularly following the closing of the Tysabri Transaction on April 2, 2013. Elan’s position remains as outlined on February 25, 2013: