Let's hope Alkermes becomes as familiar as Elan

Elan has been part of Athlone's industrial and commercial landscape since Don Panoz established the company in the town over three decades ago. The news in May that Elan was to sell its Athlone facility and the its drug technology unit, Elan Drug Technologies (EDT) to another company Alkermes understandably sparked concern. The transaction will result in EDT being incorporated into a new entity, Alkermes Plc. As part of the deal Elan will receive $500 million in cash and will become a 25% stakeholder in Alkermes Plc With Elan now confirming that the sale should go through as planned by the end of September, the onus is now firmly on the new owners to ensure that the 400 positions in Athlone are protected. When the sale was announced in May, representatives of Alkermes said not only were these jobs secure, but there was potential to grow the number of staff in the months and years to come. Alkermes CEO Richard Pops said: "We intend to build and grow here in Athlone and in Ireland in general." It is the fervent hope of all in Athlone that Alkermes Plc becomes as synonymous with Athlone over the next 30 years as Elan has during the past three decades.