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Wed 04 Apr 2003Elan to make $89.5m from Xcel investment
Elan has taken the latest step in its asset disposal programme with the announcement that it will receive $89.5 million (€82.1 million) in cash from its investment in Xcel Pharmaceuticals.
Elan purchased three million preferred shares in the privately owned Xcel in 2001, while Xcel also issued a total of $109 million of loan notes to Elan.
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