Interested parties may access a live audio web cast of the presentation by visiting the Investor Relations section of the Elan website at www.elan.com, then clicking on the event icon. Following the live webcast, an archived version of the presentation will be available at the same URL.

About Elan

Elan Corporation, plc is a neuroscience-based biotechnology company committed to making a difference in the lives of patients and their families by dedicating itself to bringing innovations in science to fill significant unmet medical needs that continue to exist around the world. Elan shares trade on the New York and Irish Stock Exchanges. For additional information about the company, please visit http://www.elan.com.

The Company anticipates that the exchanges will be completed by the close of business on November 13, 2009. Upon completion of the exchanges, the aggregate principal amount of the Company’s 4.75% Convertible Senior Subordinated Notes due 2013 will be reduced to approximately $35.0 million. Upon issuance of the common stock in exchange for the notes, Vertex will have approximately 186 million shares of common stock outstanding.

This announcement is neither an offer to exchange nor a solicitation of an offer to exchange any of these securities. The exchanges are exempt from registration under Section 3(a)(9) of the Securities Act of 1933.

About Vertex

Vertex Pharmaceuticals Incorporated is a global biotechnology company committed to the discovery and development of breakthrough small molecule drugs for serious diseases. The Company’s strategy is to commercialize its products both independently and in collaboration with major pharmaceutical companies. Vertex’s product pipeline is focused on viral diseases, cystic fibrosis, inflammation, autoimmune diseases, cancer and pain. Vertex co-discovered the HIV protease inhibitor, Lexiva, with GlaxoSmithKline.

Lexiva is a registered trademark of the GlaxoSmithKline group of companies.

Special Note Regarding Forward Looking Statements

This press release contains forward-looking statements, including the statement that Vertex expects to close the exchanges by November 13, 2009. While the Company believes the forward-looking statements contained in this press release are accurate, those statements are subject to risks and uncertainties that could cause our results to vary materially. Those risks and uncertainties include the risk and uncertainty that the closing will not occur in a timely manner and other risks and uncertainties listed under Risk Factors in Vertex’s annual report and quarterly reports filed with the Securities and Exchange Commission. Vertex disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, unless required by law.

Vertex’s press releases are available at www.vrtx.com

“This is an exciting and important step that will help meld two very promising technologies developed at our partnering institutions in a way that holds a lot of lifesaving promise,” said James Willerson, MD, THI president and a partner in the stem-cell research.

THI at St. Luke’s Episcopal Hospital is positioned to be the first to use the Stereotaxis Magnetic Navigation System to treat certain heart rhythm problems and to deliver stem cells to human hearts, pending approvals. The Stereotaxis is a new magnetic navigation system that uses image-guided, computerized equipment to achieve a safer, more efficient and more effective option for cardiology patients.

The grant will help perfect technology based on an ultrasensitive class of MRI contrast agents invented at Rice in 2005. Prescribed for about a third of all MRI patients today, contrast agents increase the sensitivity of MRI scans and make it easier for doctors to deliver a diagnosis. The most effective and common of these clinical agents contain a toxic metal called gadolinium, which is sequestered by wrapping the metal in organic molecules called chelates.

In Rice’s new contrast agents, the gadolinium is encased inside hollow tubes of pure carbon, called nanotubes, to eliminate the metal’s toxicity. These ‘gadonanotubes’ are at least 40 times more effective at boosting MRI signals than traditional gadolinium contrast agents.

“There’s a great deal of interest in using stem cells to regenerate damaged heart tissue, but there hasn’t been a really effective way to track the cells in vivo [within the body] and test their effectiveness,” said gadonanotube inventor Lon Wilson, professor of chemistry at Rice. “Gadonanotubes may be what’s needed because they are small enough to internally label individual cells with a large number of nanotubes and sensitive enough to track the cells in real time.”

In addition, the gadonanotubes make the labeled cells highly magnetic so that it may be possible to steer the cells in vivo with an external magnetic field. This may aid in keeping the stem cells in a desired place for the several weeks it takes them to differentiate into heart muscle cells.

With the new grant, researchers at Rice and the THI will label stem cells with gadonanotubes and attempt to use the cells to regenerate damaged heart tissue. The team will use MRI to track the cells and judge their effectiveness.

“At THI, we are very excited to work in collaboration with Rice,” said Emerson Perin, MD, principal investigator on the Challenge Grant, director of clinical research for cardiovascular medicine at THI and medical director of THI’s Stem Cell Center. “It’s very exciting to utilize nanotechnology as a completely novel way for us to further understand stem cell therapy through imaging and tracking stem cells injected into the heart.”

“We’re very optimistic that this work may allow us to direct stem cells to a desired position and retain them in the heart with an external magnet,” said Dr. Willerson. “That would be a major milestone.”

Challenge Grants are part of the NIH’s stimulus funding initiative. The agency allotted $200 million from the American Recovery and Reinvestment Act (ARRA) for Challenge Grants, which promote advances in high-impact areas like regenerative medicine.

The NIH received a staggering 20,000 grant proposals for ARRA funding, and Wilson said the gadonanotube proposal was ranked within the top 2 percent. He also said Rice graduate student Lesa Tran deserves a large amount of the credit for that. Tran, a third-year PhD student, helped invent gadonanotubes while working as an undergraduate intern in Wilson’s lab. In her graduate work, Tran splits her time between Perin’s and Wilson’s labs, where she’s helped complete the groundwork for the NIH proposal under the direct supervision of Maria da Graça Cabreira, senior research scientist of the Stem Cell Center.

“This grant is a real milestone for the project, and it’s a great testament to the hard work that Lesa and the rest of the team have dedicated to this project,” Wilson said.

About Rice University

Located in Houston, Rice University is consistently ranked one of America’s best teaching and research universities. Known for its “unconventional wisdom,” Rice is distinguished by its: size — 3,102 undergraduates and 2,237 graduate students; selectivity — 12 applicants for each place in the freshman class; resources — an undergraduate student-to-faculty ratio of 5-to-1; sixth largest endowment per student among American private research universities; residential college system, which builds communities that are both close-knit and diverse; and collaborative culture, which crosses disciplines, integrates teaching and research, and intermingles undergraduate and graduate work. Who Knew? http://explore.rice.edu/explore/Who_Knew.asp

About the Texas Heart^® Institute

The Texas Heart Institute, founded by world-renowned cardiovascular surgeon Dr. Denton A. Cooley in 1962, is a nonprofit organization dedicated to reducing the devastating toll of cardiovascular disease through innovative and progressive programs in research, education and improved patient care. Together with its clinical partner, St. Luke’s Episcopal Hospital, it has been ranked among the top ten cardiovascular centers in the United States by U.S. News & World Report’s annual guide to “America’s Best Hospitals” for the past 19 years. The Texas Heart Institute is also affiliated with the University of Texas (UT) System, which promotes collaboration in cardiovascular research and education among UT and THI faculty at the Texas Heart Institute and other UT components.

The following abstract will be presented in a poster session on Saturday, December 5, 2009 from 5:30 – 7:30 p.m., Central Standard Time (CST):

“Chronic Renal Insufficiency in Japanese Patients with Paroxysmal Nocturnal Hemoglobinuria (PNH): Improvement with Eculizumab Treatment in the Long-Term Follow-up of the AEGIS Study,” Kanakura, et al.

Abstract: http://ash.confex.com/ash/2009/webprogram/Paper16844.html.

The following abstracts will be presented in a poster session on Sunday, December 6, 2009 from 6:00 – 8:00 p.m. CST:

“Successful Treatment of aHUS Recurrence and Arrest of Plasma Exchange Resistant TMA Post-Renal Transplantation with the Terminal Complement Inhibitor Eculizumab,” Legault and Boelkins.

Abstract: http://ash.confex.com/ash/2009/webprogram/Paper16845.html.

“Effects of Eculizumab Therapy in Patients with Paroxysmal Nocturnal Hemoglobinuria (PNH) Receiving Concurrent Immunosuppressive Therapy for Bone Marrow Insufficiency,” Schrezenmeier, et al. Poster II-979.

Abstract: http://ash.confex.com/ash/2009/webprogram/Paper16843.html.

“Identification and Clinical Significance of Type II Granulocytes Among Patients with Paroxysmal Nocturnal Hemoglobinuria (PNH) Identified Using Multiparameter High-Sensitivity Flow Cytometry,” Movalia, et al.

Abstract: http://ash.confex.com/ash/2009/webprogram/Paper24600.html.

The following abstracts will be presented in a poster session on Monday, December 7, 2009 from 6:00 – 8:00 p.m. CST:

“Clinical Impact of Unregulated Terminal Complement Activity in Never-Transfused Patients with Paroxysmal Nocturnal Hemoglobinuria,” Muus, et al.

Abstract: http://ash.confex.com/ash/2009/webprogram/Paper18021.html.

“Terminal Complement Inhibitor Eculizumab Improves Complement-Mediated Platelet Consumption and Thrombocytopenia in Patients with Paroxysmal Nocturnal Hemoglobinuria (PNH),” Socie, et al.

Abstract: http://ash.confex.com/ash/2009/webprogram/Paper18023.html.

About Soliris

Soliris has been approved by the U.S. Food and Drug Administration (March 2007), the European Commission (June 2007), Health Canada (January 2009) and Australia’s Therapeutic Goods Administration (February 2009) as the first treatment for all patients with PNH, an ultra-rare, debilitating and life-threatening blood disorder defined by chronic hemolysis, or the destruction of red blood cells. Prior to these approvals, there were no therapies specifically available for the treatment of PNH. More information on Soliris is available at www.soliris.net.

Important Safety Information

Soliris is generally well tolerated. The most frequent adverse events observed in clinical studies were headache, nasopharyngitis (a runny nose), back pain and nausea. Treatment with Soliris should not alter anticoagulant management because the effect of withdrawal of anticoagulant therapy during Soliris treatment has not been established.

The U.S. product label for Soliris also includes a boxed warning: “Soliris increases the risk of meningococcal infections. Meningococcal infection may become rapidly life-threatening or fatal if not recognized and treated early. Vaccinate patients with a meningococcal vaccine at least two weeks prior to receiving the first dose of Soliris; revaccinate according to current medical guidelines for vaccine use. Monitor patients for early signs of meningococcal infections, evaluate immediately if infection is suspected, and treat with antibiotics if necessary.” During clinical studies, two out of 196 vaccinated PNH patients treated with Soliris experienced a serious meningococcal infection. Prior to beginning Soliris therapy, all patients and their prescribing physicians are encouraged to enroll in the PNH Registry, which is part of a special risk-management program that involves initial and continuing education and long-term monitoring for detection of new safety findings.

About Alexion

Alexion Pharmaceuticals, Inc. is a biopharmaceutical company working to develop and deliver life-changing drug therapies for patients with serious and life-threatening medical conditions. Alexion is engaged in the discovery, development and commercialization of therapeutic products aimed at treating patients with a wide array of severe disease states, including hematologic and kidney diseases, transplant, cancer, and autoimmune disorders. Soliris is Alexion’s first marketed product. Alexion is evaluating other potential indications for Soliris as well as other formulations of eculizumab for additional clinical indications, and is pursuing development of other antibody product candidates in early stages of development. This press release and further information about Alexion Pharmaceuticals, Inc. can be found at: www.alexionpharma.com.

Aduro will use the new capital to complete the acquisition of key intellectual property from Cerus Corporation and the former Anza Therapeutics, and to support late stage pre-clinical development prior to initiating clinical trials. Aduro anticipates filing an investigational new drug (IND) application with the FDA in fourth quarter of 2010 to begin Phase 1 clinical trials in patients chronically infected with the Hepatitis C virus. Anza Therapeutics previously conducted three FDA approved Phase 1 clinical trials, including two cancer trials, and Aduro will expand upon these programs in its future clinical studies.

“The current round of funding will allow us to advance our therapeutic vaccines program, which is currently focused on the treatment of Hepatitis C infection and prostate cancer,” said Stephen T. Isaacs, Aduro’s President and Chief Executive Officer. “We believe these two important diseases are appropriate for the initial application of the Listeria technology, and we plan to leverage this versatile platform for many other applications.

Mr. Isaacs added, “We’re very pleased to have raised the necessary capital to continue this promising program started by Cerus and Anza, especially given the current economic environment. The willingness of our investors to support our efforts is a testament to the scientific team and the potential of the Listeria platform.”

Dr. Mike Powell, general partner of Sofinnova Ventures and a former board member and Chairman of Anza Therapeutics added, “I’m very pleased that Aduro has acquired the Listeria vaccine technology, and I believe the company is in a strong position to move it forward. The Listeria approach is potentially very powerful, and may indeed have blockbuster potential.”

Aduro has developed a proprietary approach to therapeutic vaccines that the company believes will enable it to quickly and efficiently produce a portfolio of promising vaccines for both cancer and infectious diseases. Aduro anticipates entering human clinical trials within twelve months and providing important human proof-of-concept results by 2011.

Key to Aduro’s approach is the intracellular bacterium Listeria monocytogenes, which Aduro scientists have genetically engineered to enhance both safety and efficacy. Listeria is an ideal delivery platform to enable the human immune system to recognize a specific antigen and rally an attack against it. The Listeria approach overcomes many of the current limitations of other therapeutic vaccine platforms by potentially providing superior potency, the ability for repeat administration, and low manufacturing costs. Aduro has demonstrated strong immune responses against multiple targets following a series of vaccinations in animal models, including demonstrated efficacy for both prevention and treatment in multiple tumor models. A further advantage is the ability to use the same proprietary Listeria strain to construct multiple vaccines, which can potentially simplify development and regulatory review, thereby accelerating time to product approval.

“There are obvious advantages to Aduro’s technology, in that Listeria vaccines stimulate both the innate and adaptive arms of the immune system, which make them extremely potent agents. And significantly, the Listeria vaccines have demonstrated the key ability to break tolerance in rigorous pre-clinical disease models” said Drew Pardoll, MD, PhD, the co-director of the Sidney Kimmel Cancer Center and Seraph Professor of Medicine at The Johns Hopkins University. Dr. Pardoll, who will chair Aduro’s Scientific Advisory Board and who has been associated with the Listeria program since 2002, added, “I’m very pleased that Aduro has acquired the Listeria technology and I look forward to working with the Aduro scientific team to further develop this important vaccine platform.” Joining Dr. Pardoll on the Scientific Advisory Board are Dr. Daniel Portnoy, who is Professor of Biochemistry and Molecular Biology at the University of California at Berkeley, and Dr. Thomas Dubensky, Chief Scientific Officer of Immune Design Corporation, both of whom have worked with the Aduro team for several years in developing the Listeria vaccine platforms and advancing product candidates to human clinical trials.

About Aduro Biotech

Aduro is a privately held biotechnology company committed to developing safer and more effective options for patients in disease areas with substantial unmet medical needs. Aduro’s current focus is to develop novel therapeutic and prophylactic vaccine technologies based on the intracellular bacterium Listeria monocytogenes, which are being designed to harness the power of the immune system against cancer and infectious disease. Aduro’s active development programs include therapeutic vaccines against Hepatitis C and prostate cancer. A recent television story concerning Aduro’s vaccine development program was presented by KTVU and may be viewed at http://www.ktvu.com/news/21567552/detail.html.

Under the terms of this proposed partnership, Duke and Jubilant will work towards jointly selecting and managing a portfolio of translational research projects that leverages expertise and thought leadership from Duke University scientists and development capabilities including funding from Jubilant. The parties shall commit to work together over a period of five years with the objective of developing a portfolio of 4-5 technologies at steady state over the period of collaboration.

The non-exclusive collaboration will apply Jubilant’s demonstrated and proprietary portfolio of drug development capabilities toward discoveries made by the faculty of the Duke University School of Medicine. This process aims to move early-stage translational technologies closer toward clinical application while creating value for both parties. Both parties intend to monetize successful technologies by licensing or partnering as appropriate and receive milestones/royalties. Royalties paid to Duke would be churned back into support of promising faculty discovery research and further investments in translational technologies.

“This project and relationship will further the shared commitments of Duke Medicine and Jubilant to innovative translational medicine strategies and brings together incredibly strong complementary expertise in science and research & development,” said Victor J. Dzau, MD, Chancellor for Health Affairs at Duke, and CEO, Duke University Health System.

Dzau made the announcement today while attending the World Economic Forum’s India Economic Summit in Delhi. Duke Medicine is the lone academic health sciences center member of the Forum’s Healthcare Industries group.

In addition, Jubilant and Duke will collaborate on two innovative biomarker studies to be conducted in Kolkata, India. One will be the development of a cohort to gain insights into the clinical and molecular characteristics of several chronic diseases highly prevalent in the Indian population and to better understand these diseases in the context of transitioning rural to urban populations. The second study will validate in an Indian population, with heart disease and diabetes, metabolomic biomarker signatures found to be associated with insulin resistance and cardiovascular disease in Caucasian populations. Jubilant will fund the pilot phase of these studies in India and both studies will be led by Svati Shah, MD, MHS, Assistant Professor in the Division of Cardiology at Duke University School of Medicine and the Duke Global Health Institute.

“This partnership is a continued demonstration of Jubilant’s global partnering efforts to identify and deliver affordable and enabling innovation and health care solutions to the global pharmaceutical industry and patients worldwide. Duke Medicine is the ideal academic health sciences partner for us to pursue our intent of building a world-class research capability as an overlay to our network of healthcare facilities that provide high quality, low cost care for economically weaker section and rural communities in India,” said Shyam Bhartia, Chairman & Managing Director & Hari Bhartia, Co-chairman and Managing Director for Jubilant Organosys. “Duke University uniquely understands the importance of eliminating global health disparities and is recognized globally for its excellence in conducting translational research that will, in this case, help us work together towards improving the high quality and affordable care for patients in India.”

“I believe academic health sciences centers have the ability and the collective responsibility to transform medicine, improve health and reduce health disparities locally and globally,” said Dzau. “However, achievement of these goals necessitates the development of a continuum that spans discovery and translation sciences, and must include optimal partnerships that are not limited by geography. Partnerships with like-minded leading global healthcare entities, such as Jubilant, will be critically important in making this possible.”

The Duke Translational Medicine Institute (DTMI) and the Office of Licensing and Ventures (OLV) will coordinate the translational research component of this partnership for Duke University, while the Duke Global Health Institute (DGHI) will coordinate the cohort studies component.

About Duke Medicine’s Commitment to Global Health

Duke Medicine’s mission-based commitment to global health includes the Duke – National University of Singapore Graduate Medical School that is now in its third year of operation. Students from around the globe are being trained in Duke’s innovative medical education model and faculty members have initiated a number of major research projects designed to answer questions of importance within the region.

In addition, the Duke Global Health Institute (DGHI) has rapidly developed into one of the leading global health initiatives in the United States. DGHI has collaborations with institutions in China, Singapore, India, Kenya, Tanzania, Uganda and Haiti, and is pursuing partnerships in Sri Lanka, Thailand, Indonesia, Rwanda, Ghana, Honduras, Mexico, and other countries where Duke faculty have ongoing research, education, policy or service activities and interests. For more information: www.dukemedicine.org.

About Jubilant Organosys

Jubilant Organosys Ltd., an integrated pharmaceutical industry player, is the largest custom research and manufacturing services (CRAMS) Company out of India. The Company has a presence across the pharmaceutical value chain for providing products and services such as proprietary products, exclusive synthesis, active pharmaceutical ingredients, contract manufacturing of sterile injectables & non-steriles products, radiopharmaceuticals, generic dosage forms, drug discovery services, medicinal chemistry services, clinical research services, and healthcare. The Company also manufactures Industrial and Performance products. For more information: www.jubl.com.

About Jubilant Biosys

Jubilant Biosys Ltd., a subsidiary of Jubilant Organosys Ltd., provides integrated drug discovery and development solutions to the global pharmaceutical industry. Jubilant Biosys has an integrated state of the art facility in Bangalore. The Center houses over 450 scientists specializing in multiple disciplines to include Discovery biology, medicinal chemistry, structural biology, pharmacology, toxicology, pharma chem, molecular modeling, crystallography and information technology supporting discovery efforts.

For more information www.jubilantbiosys.com.

About Five Prime Therapeutics, Inc.

Five Prime Therapeutics, Inc. is a clinical stage, privately-held company discovering and developing innovative protein and antibody therapeutics. Using its world-class biologics discovery platform, FivePrime is building a strong product pipeline in oncology, immunology and metabolic diseases. It has engineered a unique suite of technologies to comprehensively mine the entire extracellular human proteome- the complete collection of secreted proteins and receptors- to discover its therapeutic protein drugs and antibody targets. FivePrime is currently in Phase I with FP-1039 for solid tumors. Pharmaceutical partners include Johnson & Johnson’s Centocor division and Pfizer, Inc. For more information, please visit www.fiveprime.com.