Elan net income leaps 89% in 1st qtr

23 April 2001

Elan Corp of Ireland has reported net income (excluding one-timecharges of $68 million) of $144.4 million for the first quarter of 2001, a rise of 88.8% compared with the like, year-earlier period, while revenues increased 27% to $429.3 million. The climb was principally due to a jump of 39% in the firm's product revenues to $324.1 million.

Elan's chief executive, Donal Geaney, said the company now has three products which should bring in revenues for the firm of over $100 million each in 2001. These are Zanaflex (tizanidine) for spasticity, Skelaxin (primidone) for muscular pain and the antifungal Abelcet (liposomal amphotericin B).

He added that growth in 2001 will be further boosted by the recently-launched antiepileptic Zonegran (zonisamide) and Myobloc (botulinum toxin type B) for cervical dystonia, Frovelan (frovatriptan) for migraine and ziconotide for chronic severe pain. Mr Geaney also noted that Antegren (natalizumab), which is being developed with Biogen, will enter Phase III clinical trials for multiple sclerosis and Crohn's disease this year.

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