Elan, the Irish drugs firm that is co-marketing the MS drug Tysabri with US biotech firm Biogen Idec, announced today that the Board of Directors has engaged Citigroup Global Markets. to conduct, in conjunction with executive management and other external advisors, a review of the Company's strategic alternatives. The goal is to secure access to the necessary financial resources and commercial infrastructure to allow Elan to accelerate the development and commercialization of its extensive pipeline and product portfolio while maximizing the ability of its shareholders to participate in the resulting longer term value creation. The range of alternatives that will be assessed could include minority investment or strategic alliance, a merger or sale.