The chief financial officer of Elan Corporation, Mr Tom Lynch, has made a paper profit of more than £14 million (€17.8 million) after exercising share options. Mr Lynch bought 500,000 at prices of $7,81, $9.62 and $8.31 at a total cost of $4.4 million (€4.8 million). At the current Elan price of $40.87, these shares are worth $20.4 million.

Meanwhile, the Elan annual report for 1999 shows that the group's 13 directors - three executive and 10 non-executive - shared a total remuneration package of $3.6 million last year.

Elan does not break down the remuneration between the executive and non-executive directors.