Business Irish

Thursday 25 May 2017

Third quarter profit rise to €234m at Elan

ELAN has reported a profit rise of 17pc in third quarter as revenues rose to $328.5m (€234m) from $281m (€200m).

The company said the rise was due to a $61m increase in revenues from its BioNeurology business.

This offset by a decrease of $14m in revenues from the EDT business.

Last year Elan reported a 58pc increase in adjusted earnings to $60.3m from $38.2m in the third quarter.

Operating income more than trebled to $46.3m from $14.2m in 2010.

Elan said that Tysabri sales for the three month period increased by 28pcto $392.6m from $307.2m for the same time of 2010.

The growth shows increased patient demand across global markets and a higher price in the US, along with favourable foreign currency rates.

By the end of September 2011, about 63,500 patients were using the multiple sclerosis drug worldwide.

Promoted articles

Also in Business