DUBLIN (Reuters) – Irish drugmaker Elan (ELN.I: Quote, Profile, Research) is raising more than $3.25 billion (2.07 billion pounds) by selling its interests in its main drug and will splash out most of the proceeds on acquisitions, effectively reinventing itself as a company.

Under a deal announced on Wednesday, Elan’s partner Biogen Idec (BIIB.O: Quote, Profile, Research) will take full ownership of blockbuster multiple sclerosis (MS) treatment Tysabri and will make an upfront payment to the Irish group plus royalties on future sales.

DUBLIN, Feb 6 (Reuters) – Biogen Idec is to take
full ownership of blockbuster multiple sclerosis drug Tysabri
after agreeing to pay Irish partner Elan $3.25 billion
plus future royalties on sales of the drug.

The deal gives Elan strategic flexibility to buy new assets
but leaves unclear the future direction of the company, since
Tysabri was by far its most important product.

DUBLIN (Reuters) – Many of the women and girls subjected to harsh discipline and unpaid work in Ireland’s now-notorious Magdalene Laundries were sent there by the Irish state, an official report said on Tuesday.

The laundries, run by Catholic nuns, have been accused of treating inmates like “slaves” for decades of the 20th century, imposing a regime of fear and prayer on girls sometimes put in their care for simply falling pregnant outside wedlock.

FRANKFURT/DUBLIN (Reuters) – The European Central Bank appears happy to leave Ireland and Portugal to fend for themselves, holding off directly buying the bail-out recipients’ debt unless markets turn sour again.

Both Ireland and Portugal have re-entered sovereign bond markets recently, but the ECB has left investors and governments guessing about when it could use its new bond-buying programme, known as Outright Monetary Transactions (OMT).

LONDON/DUBLIN (Reuters) – Ireland’s banking recovery could yet be derailed by its international creditors.

The European Central Bank’s refusal so far to give Dublin any relief on the 30-billion euro cost of bailing out Anglo Irish Bank is a major setback for government ambitions to exit an EU-IMF bailout this year and give the euro zone its first post-crisis success story.

LONDON/DUBLIN Jan 28 (Reuters) – Ireland’s banking recovery
could yet be derailed by its international creditors.

The European Central Bank’s refusal so far to give Dublin
any relief on the 30-billion euro cost of bailing out Anglo
Irish Bank is a major setback for government ambitions to exit
an EU-IMF bailout this year and give the euro zone its first
post-crisis success story.

DUBLIN, Jan 27 (Reuters) – Ireland will make changes to its
proposal to ease the state’s bank debt burden, government
ministers said on Sunday, adding that failure to reach a deal
with the European Central Bank could have catastrophic
consequences.

The ECB rejected Ireland’s preferred solution over how to
reschedule part of its state-owned bank debt, Reuters reported
exclusively on Saturday, citing EU sources familiar with the
discussions.

DUBLIN, Jan 27 (Reuters) – Ireland will make changes to its
proposal to ease the state’s bank debt burden, government
ministers said on Sunday, adding that failure to reach a deal
with the European Central Bank could have catastrophic
consequences.

The ECB rejected Ireland’s preferred solution over how to
reschedule part of its state-owned bank debt, Reuters reported
exclusively on Saturday, citing EU sources familiar with the
discussions.

DUBLIN (Reuters) – Ireland’s Jonathan Sexton will join French side Racing Metro next season after the Irish Rugby Football Union (IRFU) said on Friday the flyhalf would not be renewing his contract with European champions Leinster.

Sexton, who won three Heineken Cups in four seasons with Leinster and has become one of Ireland’s most influential players, has been offered a two-year contract with the Paris-based side, a source close to the deal told Reuters.

DUBLIN, Jan 25 (Reuters) – Ireland’s Jonathan Sexton will join French side Racing Metro next season after the Irish Rugby Football Union (IRFU) said on Friday the flyhalf would not be renewing his contract with European champions Leinster.

Sexton, who won three Heineken Cups in four seasons with Leinster and has become one of Ireland’s most influential players, has been offered a two-year contract with the Paris-based side, a source close to the deal told Reuters.