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Elan Picks Drug Exec As Chairman

Elan Picks Drug Exec As Chairman [The News & Observer, Raleigh, N.C.]

From News & Observer (Raleigh, NC) (December 7, 2010)

Dec. 07--One of the Triangle’s most experienced pharmaceutical industry executives will join Elan Corp. as chairman of the Irish biotechnology company’s board.

Robert Ingram has joined Elan’s board and will replace Kyran McLaughlin as chairman on Jan. 26, the company announced Monday.

Ingram was CEO of Glaxo and later vice chairman of GlaxoSmithKline. Since January, he has worked as an adviser to GSK chief executive Andrew Witty. The pharmaceutical giant has its North American headquarters in RTP. Ingram, who turned 68 on Monday, was traveling and didn’t return calls seeking comment. He serves on the board of other public companies, including Allergan, Cree, Edwards Lifesciences, Lowe’s Cos. and Valeant Pharmaceuticals. He is a general partner of Hatteras Venture Partners, a Durham venture capital firm that invests in biomedical companies.

"Bob has a proven track record of successful leadership and a deep understanding of the industry overall," a statement from McLaughlin said.

Elan used executive-search firm Heidrick & Struggles to recruit Ingram.

Elan makes drugs to treat Alzheimer’s and Parkinson’s diseases and multiple sclerosis. It markets its MS drug Tysabri with Biogen Idec, which makes the drug at RTP.

Elan’s American depositary receipts, similar to common stock for foreign companies, rose 42 cents to $5.59.

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Posted: December 2010