January 10, 2009 / 3:11 AM / in 10 years

Elan CEO says not in talks with Pfizer- Bloomberg

NEW YORK, Jan 9 (Reuters) - Elan Corp Plc ELN.I ELN.L Chief Executive Kelly Martin told Bloomberg Friday that the Irish drugmaker is not negotiating to sell itself to Pfizer Inc (PFE.N), or any other drug company, even though Kelly said Elan is “approached consistently” by suitors.

Spokespersons from neither Elan nor Pfizer could be reached for comment.

Elan stock jumped as much as 20.2 percent on Thursday and its options volume surged on speculation it may be a takeover target.

But in trading Friday on the New York Stock Exchange, Elan fell 31 cents, or 3.56 percent to close at $8.39. (Reporting by Phil Wahba; Editing by Carol Bishopric)

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