Elan Advises Shareholders to Withdraw Acceptance of Royalty Offer

Elan Corporation, plc ELN (Elan or the Company) today advises Elan Shareholders to withdraw any acceptances of Royalty Pharma's Offer without delay and not to tender any further acceptances. Following the outcome of the Elan EGM yesterday morning, and in accordance with the terms of the Royalty Pharma Offer, the Royalty Pharma Offer has now lapsed*. Withdrawal of acceptances of the Royalty Pharma Offer will ensure that Elan Shareholders are in a position to participate in the benefits of the formal sale process which has now commenced. Elan's financial advisers contacted Royalty Pharma's financial advisers over the weekend of 15/16 June for the purpose of inviting Royalty Pharma to participate in that process. See full press release