Elan has announced the expected timetable of the separation of a substantial portion of its drug discovery business into a new independent, publicly traded company called Prothena Corporation plc.
The company's shareholders approved a resolution in respect of the demerger at an EGM last week. They will each receive one Prothena share for every 41 Elan shares held.
Elan said it has applied to get the Prothena shares trading on the NASDAQ Global Market on Wall Street.
