DUBLIN, Ireland--(BUSINESS WIRE)--July 6, 2006--Elan Corporation, plc (NYSE:ELN - News) today announced that it has entered into a License Agreement with Abbott Pharmaceutical PR Ltd (NYSE:ABT - News) in which Abbott has been granted US rights, in a partnership with AstraZeneca Pharmaceuticals, LP, to utilize Elan’s proprietary NanoCrystal Technology to develop and commercialize a single fixed-dose combination product containing the active pharmaceutical ingredients in Abbott’s TriCor® 145 (fenofibrate) and AstraZeneca’s Crestor® (rosuvastatin calcium) products. Under the terms of the License Agreement, Elan will receive payments upon the achievement of development, clinical, and regulatory milestones for such new combination product. Additionally, Elan will receive royalty payments based on US sales of the combination product, if successfully developed and commercialized.
