Elan sales to fall 52% in third quarter

DRUGS company is Elan is set to see third-quarter sales halve when it reports results later this week.

According to brokers, third-quarter sales will fall by 52% to $165m, with $128m of this coming from retained profits.

However, analysts at NCB Stockbrokers are expecting Elan to post a loss per share of 28 cents, an improvement on the loss reported this time last year.