When Elan (NYSE:ELN) announced back in February that it was selling its interests in Tysabri to Biogen Idec (Nasdaq:BIIB)
my biggest concern was that Elan management would waste the proceeds.
Elan management had made a series of questionable (if not bizarre)
decisions prior to the Tysabri announcement, and I had minimal
confidence that they would do the right thing – which, in my opinion,
was simply to sell off the remaining assets and write a check to
shareholders. Since then, the company's two major strategic decisions
only reinforce my worries that Elan shareholders are not going to be
well-served by management in the deployment of this cash.
Please read the full article here:
http://www.investopedia.com/stock-analysis/052113/elan-continues-make-baffling-strategic-decision-eln-thrx-gsk-prta-sny.aspx
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