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| Elan Responds to Class Action Lawsuits; Plans to Vigorously Defend |
DUBLIN, Ireland, Feb. 6 /PRNewswire-FirstCall/ -- Elan Corporation, plc (NYSE: ELN) ("Elan") announced today that it has learned that it and certain of its officers and directors have been named as defendants in purported class action lawsuits brought on behalf of purchasers of securities of Elan, alleging violations of the U.S. federal securities laws. Elan intends to vigorously defend these actions. Elan Corporation, plc is a leading worldwide, fully integrated biopharmaceutical company headquartered in Ireland, with its principal research, development, manufacturing and marketing facilities located in Ireland and the United States. Elan is focused on the marketing of therapeutic products and services in neurology, pain management, oncology, infectious disease and dermatology and on the development and commercialization of products using its extensive range of proprietary drug delivery technologies. Elan shares trade on the New York, London and Dublin Stock Exchanges. This document contains forward-looking statements that involve substantial risks and uncertainties. You can identify these statements by the fact that they use words such as "anticipate," "estimate," "project," "envisage," "intend," "plan," "believe" and others words and terms of similar meaning. Among the factors that could cause actual results to differ materially from those described herein are the following: the success of research and development activities and the speed with which regulatory authorizations and product launches may be achieved; competitive developments affecting Elan's current products; the ability to successfully market both new and existing products domestically and internationally; difficulties or delays in manufacturing; the ability to meet generic and branded competition after the expiration of Elan's patents; trends toward managed care and health care cost containment; possible legislation affecting pharmaceutical pricing; exposure to product liability and other types of lawsuits; Elan's ability to protect its intellectual property both domestically and internationally; interest rate and foreign currency exchange rate fluctuations; governmental laws and regulations affecting domestic and foreign operations, including tax obligations; general changes in US and Irish generally accepted accounting principles; growth in costs and expenses; changes in product mix; and the impact of acquisitions, divestitures, restructurings, product withdrawals and other unusual items. A further list and description of these risks, uncertainties and other matters can be found in Elan's Annual Report on Form 20-F for the fiscal year ended December 31, 2000, and in its Reports of Foreign Issuer on Form 6-K. Elan assumes no obligation to update any forward- looking statements, whether as a result of new information, future events or otherwise.SOURCE Elan Corporation, plc
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Investors, U.S. - Jack Howarth,
+1-212-407-5740, +1-800-252-3526, or Investors, Europe - Emer
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Gershenoff, +1-212-407-5751, +1-800-252-3526, all for Elan
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