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ELAN UNITS WILL SEPARATE NOV. 16, 1992

 ELAN UNITS WILL SEPARATE NOV. 16, 1992
 ATHLONE, Ireland, Nov. 13 /PRNewswire/ -- Elan Corporation plc


(AMEX: ELN) said that each unit issued in 1990 by Elan and Drug Research Corporation plc. (AMEX: ELNU) will separate effective Monday, Nov. 16, 1992 into one Callable ADS of DRC and one and one half warrants, each warrant to purchase one ADS of Elan at an exercise price of $15.38 per ADS. Each warrant will be exercisable by the holder until Nov. 14, 1995.
 The DRC share will trade on the American Stock Exchange under the symbol ELR. The warrant will also trade on the American Stock Exchange under the symbol ELN.WS.
 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 operated research and manufacturing facilities in Athlone; Gainesville, Ga.; Brea, Calif. and Cambridge, Mass. in the United States, Enschede, Netherlands; Manila, Philippines and Mezzovico, Switzerland.
 -0- 11/13/92
 /CONTACT: Michael Barry, vice president-finance, 011-353-902-94666, or 800-252-3526, or Thomas Redington of Redington, Inc., 203-222-7399 or 212-926-1733, for Elan/
 (ELN) CO: Elan Corporation plc ST: IN: MTC SU:


AH-SM -- NY049 -- 0763 11/13/92 14:16 EST
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Publication:PR Newswire
Date:Nov 13, 1992
Words:203
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