Elan feels full benefit of Tysabri

The first full quarterly benefit of royalty payment arrangements regarding leading multiple sclerosis drug Tysabri helped Elan record adjusted earnings of $12.1m (€8.8m) in the three months to the end of September.

The adjusted earnings were before interest, tax, depreciation, and amortisation.

The Dublin-based biotechnology firm sold its 50% share of Tysabri to its previous partner on the product, US firm Biogen Idec, for $3.25bn, earlier this year. Elan stands to receive 12% of the drug’s global net sales for the 12 months from the beginning of last May, with that amount set to rise to 18% of sales up to $2bn (and 25% of sales higher than $2bn) from next May.