Give credit where due - Ireland's Elan (ELN) has always been willing to take dramatic steps in the hope of improving ultimate returns to shareholders. The latest move is a doozy - basically splitting the company into an early-stage research-driven biotech and a cash-farming collection of assets. Odd as it may seem, this may be a case where breaking up a company results in parts worth more than the whole.
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Elan's Split Will Create 2 Very Different Companies