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Biotech / Medical : Elan Corporation, plc (ELN) -- Ignore unavailable to you. Want to Upgrade?

To: arnie h who wrote (2877)	7/31/2002 10:48:30 AM
From: biostruggle	Respond to of 10345

You are right for a net of 82.5 million, Elans has gained back all rights to antegren. Antegren either makes or breaks Elan. Current cash balance is 930 million, after paying back revolver and autoimmune.

To: arnie h who wrote (2877)	7/31/2002 10:48:37 AM
From: William Partmann	Respond to of 10345

That's my understanding. <July Actions Recovery plan announced today. Acquisition of all the royalty rights, including royalty rights over Antegren, held by Autoimmune Diseases Research & Development Corporation ("Autoimmune") for a net cash outflow of $82.5 million. Repayment in full of the $325.0 million revolving credit facility and termination of facility. Repayment in full of $62.6 million of 3.5% convertible notes at maturity. Cash balances after taking account of these actions $903.6 million (including cash held as collateral of $148.0 million). > From company business wire. There is a table in the Elan press release which shows a 82.5 mil payment in July to AutoImmune. Bill