Elan's 2007 loss up 51% on charges
Dublin, Ireland-based Elan Corp said that its net loss for the fourth quarter of 2007, which at $83.5 million, or $0.18 per share, was $57.0 million higher than the comparable period in 2006, had increased due to higher costs. Analysts surveyed by Thomson Financial had forecast a deficit of $0.15 per share.
Quarterly revenue advanced 31% to $218.3 million, after an increase in the contribution made by the multiple sclerosis drug Tysabri (natalizumab; which Elan co-developed with Biogen Idec) offset declining sales of the antibiotic Maxipime (cefepine). Turnover from other products reached $43.3 million in the period, while manufacturing operations and royalties grew 8.2% to $67.3 million.
2007 loss up on charges and debt repayment
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