Elan (ELN) Drops Lawsuit Against Royalty Pharma

Elan Corporation, plc (NYSE: ELN) (Elan) announced a successful result in the litigation Elan commenced one week ago in the United States District Court for the Southern District of New York (the “Court”) to compel corrective disclosure in Royalty Pharma’s tender offer documents. Elan is withdrawing its complaint before the Court because Royalty Pharma, in response to Elan’s complaint, was forced to revise its tender offer documents to provide significant amounts of additional information in revised tender offer documents filed by Royalty Pharma with the US Securities and Exchange Commission late Friday afternoon.

Elan’s financial advisors are Citigroup, Davy Corporate Finance, Morgan Stanley and Ondra Partners. Its legal advisors are A&L Goodbody and Cadwalader, Wickersham & Taft LLP.

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