Wednesday 22 November 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.

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