Elan Pharmaceuticals, based in Gainesville for the past 30 years, is now known as Alkermes Gainesville LLC, as the result of a merger involving Alkermes Inc. and Elan Corp.

Elan Drug Technologies was the drug formulation and manufacturing business unit of Elan.

“It’s a time of significant change for the organization and for the plant here in Gainesville as well,” said Donogh McGuire, vice president and general manager at the Gainesville operation, which is at 1300 Gould Drive.

The merged entity will be a new company — Alkermes plc — based out of Dublin, Ireland, said McGuire, a native of that country.

He spoke Thursday at the Greater Hall Chamber of Commerce’s board of directors meeting.

“We have grown a very successful business in Gainesville,” McGuire said.

The Gainesville plant employs about 165 people. The merger was approved last Friday.

“The assurance I can give is that the Gainesville facility will remain an integral part of the new organization ... because the facility has been very successful over the last 30 years,” McGuire said.

“We are very excited about the creation of Alkermes plc — a unique, global, diversified company and a leader in (central nervous system) medications,” said Richard Pops, chief executive officer of Alkermes plc., in a press release on the company’s website.

“Through this transaction, we have strategically combined two highly innovative companies with proprietary technologies and important commercial products, creating a strong platform for accelerating future growth and increasing shareholder value.”

Under the terms of the business combination agreement, Elan receives $500 million in cash and 31.9 million ordinary shares of Alkermes plc, representing approximately 25 percent of Alkermes plc. according to the news release.