Elan reports revenues rose by 14% in second quarter; Pre-tax losses fell to $52.3 million from €69 million in 2008
Jul 21st, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Irish drugs firm Elan today reported its revenues rose by 14% to $526 million in the second quarter of the year due to a 30% rise in income from MS drug Tysabri, which is used to treat multiple sclerosis and Crohn's disease, and a 10% increase in revenues from Elan Drug Technologies. Operating losses dropped by 54% from $36 million to $16.5 million, with pre-tax losses also down to $52.3 million, from €69 million in the same period in 2008.