First-Quarter Results Strong From Elan
The Irish pharmaceutical company Elan Corporation saw its pretax profits climb 24% to IL9.44 million ($14.5 million) in its fiscal first quarter. Turnover was said to be ahead at IL28.8 million. Earnings per share were 27 pence, an advance of 23% on the like, year-earlier period.
The company is understood to be optimistic about its future growth prospects, which will be dependent on its multiple sclerosis and anticancer treatments.
Recently Elan entered an agreement with Syntex of the USA regarding the marketing of Elan's once-daily naproxen product in the USA (Marketletter August 8). It is entering the US home infusion market with the approval by the US Food and Drug Administration of its Panoject ambulatory infusion devices. These provide patients with continuous controlled drug delivery.
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