Elan on track for €844m loss this year, according to analysts

ELAN is on course to make losses of €844.8 million this year, according to Davy Stockbrokers who do not expect the company to return to profitability in 2003.

Davy analyst Jack Gorman said investors will be looking for news on several fronts when Elan announces its third quarter results in October.

“While the market is likely to remain focused on operating cash-flows and the performance of lead products, it will also welcome any incremental news on issues such as the appointment of a CEO, progress with the Securities and Exchange Commission or more product disposals,” he said in a report to Davy clients.