MERGER costs relating to its takeover of Elan’s former drug delivery unit, EDT, has resulted in biopharmaceutical group, Alkermes posting a net loss of $22.3 million (€16.2m) for the second quarter of its current financial year.

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.

ALKERMES Plc says it will manufacture drugs in Athlone for “one of the world’s top 10 pharmaceutical companies” in a deal that may generate from $15 million to $20m (€11m-€15m) in annual revenue by 2016.

US DRUG firm Alkermes expects to complete its acquisition of Elan’s drug delivery business next week and move its headquarters to Dublin by the end of the year, after shareholders approved the deal yesterday.

ELAN has agreed to sell its Athlone, Co Westmeath- based drug delivery unit EDT (Elan Drug Technologies) to US firm Alkermes for nearly $1 billion in a cash and equity deal.

ELAN is anticipating its full-year earnings for 2011 will beat its previous $200 million (€138m) guidance.

IRISH pharmaceutical group Elan has kept its positive full-year guidance unchanged, despite posting a third-quarter net loss of $43.6 million (€31.6m).

THE number of instances of rare brain disease PML in users of Tysabri (the multiple sclerosis drug co-owned by Irish pharmaceutical company, Elan) increased by five last month.

IRISH pharmaceutical firm Elan plans to further reduce its debt levels using the proceeds made from a bond offer to institutional investors.

ELAN has shelved plans to spin-off its Athlone-based drug delivery business EDT due to negative market conditions.

A DECISION regarding the future status of Elan’s drug-delivery business – Elan Drug Technologies (EDT) – may not be made until next year.

ELAN is expected to arrive at a decision regarding the future status of its drug delivery division, EDT, before the end of the summer – with a separate stock market listing the likely outcome.

IRISH pharmaceutical company, Elan is re-examining the possibility of separating its Athlone-based Elan Drug Technologies (EDT) business from the main group.

ELAN expects to show a full-year operating profit for the first time in nearly a decade this year, after reporting a 56% fall in annual losses for 2009.

ELAN’s drug delivery business, Elan Drug Technologies, is set to benefit from the first drug using its patented nanocrystal technology being approved for the Japanese market.

ELAN has updated its full-year guidance to allow for a forecast of adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of $75 million (€50m), after it reported a switch from net loss to net profit for its third quarter.

AN Elan subsidiary will make up to $30 million (€21m) over two years after a drug made using its trademarked NanoCrystal technology was approved by the US Food and Drug Administration (FDA).

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

MANAGEMENT at Irish pharmaceutical company Elan has re-iterated to shareholders that the |firm should be profitable by the end of next year, adding that the business had effectively turned the corner.

US healthcare giant Johnson & Johnson has acquired an 18.4% stake in Elan as part of an overall $1.5 billion (€1.07bn) investment.

ELAN Drug Technologies (EDT) — the drug delivery arm of Irish pharmaceutical firm, Elan — stands to make nearly $8 million (€5.7m), before additional payments, from its manufacture of a new multiple sclerosis (MS) treatment for US pharma firms, Acorda Therapeutics and Biogen.

IRISH drug making firm, Elan formally confirmed yesterday that it will retain its R&D arm, EDT (Elan Drug Technologies), “for the foreseeable future” due to the ongoing tightening in the credit markets.

DUBLIN-headquartered pharmaceutical company Elan is expected to give some update on the future of its drug technology division, when it issues its third-quarter results next week.

EUROPEAN private equity house Cinven has reportedly ended any interest it had in acquiring Irish pharmaceutical company Elan’s drug research arm, Elan Drug Technology (EDT), which is currently being hawked around the market for potential buyers.

Financial results announced today by Elan show a revenue growth of 38% thus boosting profits for the corporation.