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ELAN FILES TO REGISTER WARRANT SHARES

 ELAN FILES TO REGISTER WARRANT SHARES
 ATHLONE, Ireland, Nov. 6 /PRNewswire/ -- Elan Corporation plc


(AMEX: ELN) announced that yesterday it filed a registration statement with the Securities and Exchange Commission relating to approximately 5.9 million ADSs issuable upon the exercise of warrants comprising a portion of the units issued by Elan and Drug Research Corporation in November 1990.
 On Nov. 16, 1992, the units will separate into DRC shares and warrants to purchase Elan ADSs, each of which will be listed on the American Stock Exchange. The warrants will be exercisable from Nov. 16, 1992 until Nov. 14, 1995, at an exercise price of $15.38 per ADS. Each warrant is presently exercisable for 1.5 Elan ADSs. From and after Nov. 16, 1992, each warrant will be exercisable for one ADS, and an additional warrant for each two warrants held by warrantholders of record as of Nov. 16, 1992 will be distributed as of such date.
 A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 Elan Corporation plc is a world leader in the specialized health care field of advanced reformulations and drug delivery, concentrating on improved drug absorption and utilization. Elan operates research and manufacturing facilities in Athlone; Gainesville, Ga.; Brea, Calif.; and Cambridge, Mass., in the United States; Enschede, the Netherlands; Manila, Philippines; and Mezzovico, Switzerland.
 -0- 11/6/92
 /CONTACT: Brian Crotty, VP communications of Elan, 800-252-3526, or in Ireland, 902-94666; or Thomas Redington, 203-222-7399 or 212-926-1733, for Elan/
 (ELN) CO: Elan Corporation plc; Drug Research Corporation ST: IN: MTC SU:


GK-PS -- NY037 -- 8204 11/06/92 13:16 EST
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Publication:PR Newswire
Date:Nov 6, 1992
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