Elan Corp. CEO Kelly Martin

Elan Corp. CEO Kelly Martin

Elan Corp. via Bloomberg

Royalty Pharma has said the sale of Elan would allow shareholders to avoid the risks of Chief Executive Officer Kelly Martin’s strategy of reinvesting a portion of the $3.25 billion Elan received from Biogen Idec Inc. for divesting its stake in the multiple sclerosis drug Tysabri.