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

To: Qualified Opinion who wrote (3091)	8/19/2002 1:29:37 PM
From: Tim Davies	Read Replies (1) \| Respond to of 10345

DUBLIN, Aug 19 (Reuters) - Garo Armen, chairman and acting CEO of Elan, said on Monday the troubled Irish pharmaceuticals company is seeing significant buyer interest in assets it intends to sell as part of a recovery plan. "The interest we are getting has been high enough from various parties to give us encouragement that the process is going to go well," Armen said as he faced angry shareholders at the company's annual general meeting in Dublin. Last month, Elan unveiled details of a restructuring programme designed to resurrect investor confidence. The plan calls for raising $1.5 billion dollars by the end of 2003. Shares in Elan, once the biggest-capitalised Irish company at $22 billion, have plummeted 95 percent this year. Its shares were down 4.35 percent at 2.20 euros in Dublin at 1130 GMT.