Where Will Elan Go Next?
T = Trends for a Stock’s Movement
Elan is a biotechnology company that is focused on discovering and developing advanced therapies in neurodegenerative and autoimmune diseases. Such diseases include Alzheimer’s Disease, Parkinson’s Disease, Celiac disease, Crohn’s Disease, and Narcolepsy. As these diseases take a toll on many lives, any positive progress Elan can make will be very rewarding. As many of these diseases come to the attention of people around the world, biotechnology companies such as Elan will see rising demand.
Just recently, it was announced that Perrigo (NASDAQ:PRGO) will purchase the Irish pharmaceutical company, Elan, for $8.6 billion in order to take advantage of Ireland’s lower tax rates. Perrigo’s corporate income tax rate will drop from 30 percent to 12.5 percent by re-domiciling in Ireland. According to Perrigo, the deal will save the company $150 million a year in taxes.