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Elan (ELN +3.8%) intends to spin off its loss-making Neotope drug-discovery unit into a separate...

Elan (ELN +3.8%) intends to spin off its loss-making Neotope drug-discovery unit into a separate publicly traded company, a move that will make Elan immediately profitable and could fuel speculation that it will be a more attractive acquisition target for Biogen (BIIB), which is the firm's partner for its Tysabri multiple sclerosis drug. (PR)
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