Biotechnology company Elan has sold most of its stake in Alkermes for around €381m.
Last year, Elan sold its Athlone-based Elan Drug Technology division to Alkermes for almost $1 billion in cash and shares.
Elan retained a 25% stake in the business, but said this evening that it had sold just over 24 million, or just over three-quarters, of its Alkermes shares. It will hold on to a stake of just under 6%, which is subject to restrictions on its sale or transfer.
