Elan exploring spinout

Elan Corp. plc (NYSE:ELN) is considering a spinout of its Elan Drug Technologies (EDT) drug delivery business into a separate public company from its Elan BioNeurology business. EDT had revenues of $275.9 million in 2009, while the BioNeurology business reported $837.1 million in revenues. Elan previously explored a spinout of EDT in 2008 (See BioCentury Extra, Thursday, Oct. 23, 2008). ...