Elan aiming to double its revenue

ELAN is aiming to double its revenues to about $2.5 billion (€1.78bn) and the number of patients using its multiple sclerosis treatment Tysabri over the next five years.

Speaking yesterday at the publication of the Irish biotechnology company’s third-quarter results, chief financial officer Nigel Clerkin reaffirmed the group’s guidance for 2011 of EBITDA of over $200m and revenue of over $1bn, excluding the former drug delivery arm, EDT.

He added that Elan is capable of growing revenue by around 15% per annum over the next five years and expanding its Tysabri customer base from 50,000 to 120,000 over the same timeframe.