Elan in talks to sell stake to Bristol
1 June 2009
Irish biotech firm is reportedly discussing selling a minority-stake to Bristol-Myers Squibb.
According to a report in Reuters, an unamed source believes that an agreement could come as early as this week. Elan is also in talks with a second party, but the stauts of these discussions are as yet unknown.
In January, Elan hired Citigroup to conduct a strategic review of its business, which it said could lead to a sale or merger of the company.
Elan and Bristol-Myers Squibb declined to comment.
www.elan.com
www.bms.com
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