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news.Elan, an Irish drugmaker is considering to spin out its development and manufacturing division Elan Drug Technology, which could be worth up to $1.5 billion, the Reuters quoted citing Sunday Times.
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The company is reportedly considering splitting its biopharmaceuticals arm, which markets its multiple sclerosis drug Tysabri, from EDT. According to the publication, Elan could boost the value of its biopharmaceuticals business by rolling off its debt of over $1 billion into the EDT unit.