Elan full-year 2000 sales top $1.50 billion

Elan Corp of Ireland has reported net income of $158.4 million for thefourth quarter of 2000, a rise of 37.4% compared with the like, year-earlier period, while revenues increased 13% to $424.4 million. For the full year, net income jumped 26% to $495.2 million, and revenues were up 16% to $1.52 billion.

Elan's chief executive, Donal Geaney, said that he was particularly pleased that product revenues exceeded $1 billion, "a remarkable achievement in the fourth year of our transition to a fully-integrated pharmaceutical company." Elan now has three products, which he said should bring in revenues of over $100 million each in 2001: Zanaflex (tizanidine) for spasticity, Skelaxin (primidone) for muscular pain and the antifungal Abelcet (liposomal amphotericin B). Mr Geaney said growth in 2001 will be further boosted by the anti-infective Maxipime (cefepime), the recently-launched antiepileptic Zonegran (zonisamide), botulinum toxin type B, Myobloc, for cervical dystonia and Frovelan (frovatriptan) for migraine and ziconotide for chronic severe pain.

He added that Antegren (natalizumab; Marketletter January 29), which is being developed with Biogen, will enter Phase III clinical trials for multiple sclerosis and Crohn's disease in the second half of this year. Elan believes that the product "will represent a major advance for patients who suffer from these chronic and debilitating conditions," and may have applicability in the treatment of other autoimmune diseases.