Elan to close Montco R&D facility
Elan Corp. P.L.C. will close its Upper Merion research and development site in connection with the sale of its Elan Drug Technologies unit to Alkermes Inc., which was announced in May.
Elan Corp. P.L.C. will close its Upper Merion research and development site in connection with the sale of its Elan Drug Technologies unit to Alkermes Inc., which was announced in May.
In a June 22 filing with the Pennsylvania Department of Labor & Industry, Elan said it will lay off 104 employees, beginning Aug. 22.
On Wednesday, Elan disclosed severance and restructuring charges, taken during the second quarter, of $11.7 million, as well as a $5.1 million asset-impairment charge, all related to the closure.
Dublin, Ireland-based Elan acquired the operation, originally called NanoSystems L.L.C., from Eastman Kodak Co. in 1998. -Mike Armstrong