Elan names new chairman

Irish biotech group Elan has appointed former Glaxo Wellcome chief executive Robert Ingram as its new chairman.

Mr Ingram will take up the role on January 26th, taking over from Kyran McLaughlin, who announced in April that he intended to step down once a successor had been found.

Mr McLaughlin welcomed the new appointment, describing Mr Ingram as "one of the most distinguished leaders in the global pharmaceutical industry".

Mr Ingram, who was also vice chairman of pharmaceuticals for GlaxoSmithKline, will take a seat on the Elan board immediately.

"Elan is a company with tremendous science, talent and potential to have a positive impact on millions of patient lives and their families," he said.

"I am impressed with the progress the company has made over the past several years in advancing the science, improving its financial performance, and constructing unique and far reaching collaborations which will enable the company to continue to invest in science and innovate within the world of novel therapeutic advances."

Shares in Elan were up 7.7 per cent at 3.15pm, trading at €4.20 on the Dublin market.