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| Athena Diagnostics Files Registration Statement for Initial Public Offering |
DUBLIN, Ireland, Nov. 1 /PRNewswire/ -- Elan Corporation, plc (NYSE: ELN) ("Elan") announced today that its indirect wholly-owned subsidiary, Athena Diagnostics, Inc., filed a registration statement with the U.S. Securities and Exchange Commission for an initial public offering of Athena's common stock, par value $0.01 per share. The proposed offering will involve only the sale of a portion of the existing shares of common stock held by Athena's sole shareholder, Elan Pharmaceuticals, Inc., an indirect wholly-owned subsidiary of Elan. It is anticipated that the offering will commence in early 2002. The lead underwriter for the proposed offering is UBS Warburg LLC. When available, preliminary prospectuses relating to the securities may be obtained from UBS Warburg LLC at 299 Park Avenue, New York, New York 10171. Athena Diagnostics, Inc. is a leading commercial diagnostic laboratory focused on performing esoteric tests primarily in the field of neurology. A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.SOURCE Elan Corporation, plc
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