Elan and PPD, Inc. today announced they have formed a
global business collaboration focused on the advancement, progression and
execution of Elan’s development portfolio. The primary objective of this
relationship is to deploy both companies’ skills and expertise in a flexible,
integrated manner to drive the execution of Elan’s clinical programs in a
parallel and expedited basis and on a global scale.

Under this business agreement, PPD will act as Elan’s
primary service provider for all development functions and activities. Elan
will retain ownership of its assets and accountability for decision making with
regard to strategy and progression of the individual molecules as well as the
overall portfolio. This business construct will enable Elan to leverage the
significant and high quality capabilities of PPD across project and data
management, biostatistics, regulatory, clinical and medical monitoring, quality
assurance, pharmacovigilance and other areas. Elan and PPD intend to work
closely to build upon this initial relationship and continuously explore
opportunities to leverage both companies’ respective competencies and maximize
the full opportunity of moving Elan’s science into clinical development and advancing
toward patients.

“Establishing this strategic collaboration with PPD
will enable Elan to accelerate the progression of our science into the clinical
development setting in a rapid and global fashion,” said Eliseo Salinas, Chief Medical
Officer, Executive Vice President and Head of Development for Elan. “The
ability to fluidly access additional expertise and execution capability on a
global scale will complement our internal talent and may enable us to move
multiple programs forward in a parallel manner.” Elan’s Executive Vice
President and Head of Alliance
Management Doug Love commented, “PPD will act as a strategic collaborator
and deliver capabilities, resources and expertise that will enable us to
advance our business on a global scale while capturing efficiencies and flexibility
from a business and operational point of view.” David Grange, Chief
Executive Officer of PPD, added, “PPD and Elan have established an
innovative relationship structure that enables Elan to continue to invest in
and advance its world-leading work in biology and its broad application in
neuroscience while leveraging PPD’s expertise and execution capabilities across
key program areas on a global scale. This relationship brings together the
strongest resources of both companies, and we are pleased to have created this unique
and strategic business arrangement with Elan.”