ARTICLE | Company News

Elan drug delivery, neurology, autoimmune news

September 20, 2010 7:00 AM UTC

Elan said a report from U.S. law firm McKenna Long & Aldridge on a review of the company's corporate governance found no legal breaches or other wrong doing by Elan management, its directors or its advisors. Elan's board approved the report and its recommendations, including considering the feasibility of voluntarily complying with U.S. domestic reporting requirements. The review began after a proposed $1 billion investment from Johnson & Johnson (NYSE:JNJ, New Brunswick, N.J.) was reduced to $885 million due to a 2009 ruling in the U.S. District Court for the Southern District of New York (see BioCentury, Sept. 21, 2009). ...