Violations to cost Elan €152m

ELAN has formally agreed to pay over $200 million (€152m) in a settlement payment concerning marketing violations regarding one of its former drug products.

News of the potential settlement — surrounding illegal marketing activity and misbranding of the epilepsy treatment, Zonegran, which Elan disposed of six years ago — first arose earlier this year. Elan’s most recent figures — for the three months to the end of September — showed a net loss of $43.6m (nearly €32m), due mainly to a charge for the Zonegran settlement.

The once-off charge had already heavily skewed the company’s first-half figures, which showed a $215m net loss.