U.S. drugmaker Alkermes Inc. will merge with the drug-delivery division of Elan Corp. and move its headquarters from Massachusetts to Ireland, the two companies announced Monday in a deal worth $960 million.
They both said the deal, which has been in the works for at least half a year, would not mean any job losses on either side of the Atlantic.
For Elan, the sell-off of its drug technologies division caps nearly a decade of restructuring moves by the Dublin-based company to cope with crippling debts.