Elan revenues on the up

Pharmaceuticals company Elan has said its revenues strongly increased (to $526m, or €370m) in the first six months of the year.

Revenues were up by 14%, led by a 30% increase in revenues from multiple-sclerosis drug Tysabri and a 10% increase in revenues from Elan Drug Technologies (EDT).

Executive vice president and chief financial officer Shane Cooke said that the company results reflected the strong performance of both the biopharmaceuticals business and Elan Drug Technologies (EDT).

In the case of Tysabri, Elan saw a 55% increase in the number of patients added compared to the first quarter 2009.

"For the full year 2009, we remain on target to record double-digit revenue growth and to be profitable on an Adjusted EBITDA basis," said Mr Cooke.