Disposal strategist Mulligan quits Elan

Elan is parting company with the man who spearheaded the disposal of non-core assets as part of the group's recovery plan.

Mr Séamus Mulligan, who joined Elan in 1984, was responsible for the sale of assets and restructuring of joint ventures, which raised $2 billion (€1.5 billion) - $500 million ahead of target - for the pharmaceutical group.

His departure comes just days after Elan announced the end of its asset disposals.

In June 2002, Mr Mulligan, formerly president of drug delivery at Elan, was put in charge of the specially created Elan Enterprises by former chairman and chief executive Mr Donal Geaney. His appointment was a key part of the firm's response to a Securities and Exchange Commission inquiry and the collapse of investor confidence in the firm.

A statement said Mr Mulligan, whose title was executive vice-president for business and corporate development, was leaving to "actively pursue other opportunities within the pharmaceutical industry". Elan Enterprises was folded following the conclusion of the asset sale programme.

Elan chief executive Mr Kelly Martin said: "We appreciate Séamus's many contributions and devotion to Elan, especially in the last 20 months, and wish him well in his future endeavours."

Elan announces results for 2003 today.