SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Microcap & Penny Stocks : Rat dog micro-cap picks...
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Bucky Katt who wrote (8877)7/31/2002 8:34:57 AM
From: BlueCheap   of 48461
 
(ELN)Elan says to raise $1.5 bln by end 2003

Earnings also out but report didn't look that good, however, Europe seems to be liking what is going on.

DUBLIN, July 31 (Reuters) - Embattled Irish pharmaceuticals group Elan Corp (Dublin: ELN.I - news) . said on Wednesday it expected to raise $1.5 billion by the end of 2003 as part of a recovery plan designed to allay investor fears of a cash crunch.
As part of the plan, which involves selling off non-strategic units, Elan said it would also cut costs by a number of measures including axing 1,000 jobs from its 4,500 strong workforce.

Elan, plagued by uncertainty about its accounting methods and mounting debts, said it had acquired all the royalty rights held by Autoimmune Diseases Research & Development Corporation for a net cash outflow of $82.5 million.

The company repeated that it has sufficient cash to meet its liquidity requirements.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News