Elan upgrades earnings outlook
The upgraded outlook follows on from a better than expected first quarter performance from the Dublin and Athlone-based pharmaceutical firm. During the first three months of this year, the company saw its net income rise to $68.2m — up from a first quarter net loss of $7m last year. Overall revenue was up by 1% year-on-year — from $311m to $313m.
The good quarterly showing was mainly driven by a 23% year-on-year sales rise for Tysabri; the multiple sclerosis (MS) treatment which Elan co-owns with US pharma, Biogen Idec.
