Elan's 4th-qtr loss down 55%

Irish drugmaker Elan says that, for the fourth quarter of 2006, its loss fell 55% to $26.5 million from the $58.3 million it posted for the comparable period in 2005. The firm explained that the improvement was largely a result of a better operating performance, a gain of $49.8 million on an arbitration award and a $15.0 million payment following the divestment of its European business in 2005 (Marketletters passim).

The Dublin-headquartered company also reported that its turnover for the fourth quarter increased 19% to $166.4 million, with its antibiotic Maxipime (cefepine) making the largest contribution at $46.2 million, despite experiencing a 1.2% drop in sales. In addition, the firm said that it had seen expansion of its Azactam (aztreonam) and Prialt (ziconotide) product lines, which grew 21.7% to $21.3 million and 41% to $3.4 million, respectively, in the period.

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