Elan records $215m loss, due to settlement with US regulators

Elan records $215m loss, due to settlement with US regulators

Pharmaceutical firm Elan has made a loss of $215m (€167m) for the first half of the year after accounting for a $200m (€156.6m) settlement with regulators in the US related to the way in which it marketed an epilepsy drug.

Elan also reported a 10% rise in first half revenue and a decrease of 14% in operating expenses.

Revenue growth continued to be driven by a 22% increase in revenues from multiple sclerosis drug Tysabri.

The company said it expects to make an operating profit for the year, excluding the one-off effect of the settlement.

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