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Alkermes buying Elan drug unit, changing HQ location to Dublin

Mon, 05/09/2011 - 6:47am
Mass High Tech: The Journal of New England Technology

Alkermes Inc. is acquiring the Elan Drug Technologies unit of Ireland’s Elan Corp. plc in a cash and stock merger deal worth approximately $960 million that will see Alkermes Inc. relocate its headquarters officially to Dublin, Ireland, and become Alkermes plc.

According to an Alkermes spokeswoman, little will change in the operations at Alkermes Inc.’s current headquarters in Waltham, and the approximately 300 employees there, and the nearly 300 employees in facilities in Ohio, will remain in place. A press release said that Alkermes plc expects to see “approximately $20 million of annual synergies in U.S. operations” by fiscal year 2013, with most of the relatively minor savings coming from EDT plants in Georgia and Pennsylvania.

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