Alkermes gets Elan merger approval

Shareholders in Alkermes yesterday approved its merger with Athlone-based Elan Drug Technologies.

The company, based in Waltham, Massachusetts, will move its headquarters to Ireland after completing its acquisition of Elan’s drug technology unit this month.

Alkermes, which agreed in May to buy the unit in a $960 million deal, said yesterday that 99.9 per cent of shareholder votes were cast in favour of the combination. The deal combines two businesses that aim to improve the way medicines are delivered, chief executive Richard Pops said. – (Bloomberg)