Elan improves outlook on Q3 profits jump

Pharmaceutical giant Elan today reported profits of $52.3m (€35m) for the third quarter of 2009, compared to a loss of $83.5m (€55m) for the same period last year.

However the results were boosted by a one-off gain of $107.7m (€72m) during the quarter after it sold part of its Alzheimer's research business to Johnson & Johnson.