Elan, Athena Merger Approved
US Corporate News In Brief - Shareholders of the Eire-based pharmaceutical delivery manufacturing specialist Elan Corp and US company Athena Neurosciences have approved the proposed merger of the companies, originally announced March 18. Under the agreement, Athena will become a wholly-owned subsidiary of Elan. The merger creates a fully integrated drug delivery and biopharmaceutical company, and Elan's president and chief executive, Donal Geaney, says it "provides the opportunity for us to capitalize on an important therapeutic niche, by combining Athena's leading Alzheimer's disease research program with Elan's established development expertise."
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