Elan rakes in €458m
PHARMACEUTICAL company Elan has reported pre-tax profits of more than $608m (€458m) for last year. It follows a loss of $322.6m (€243m) in 2010.
Last year's results were helped by a 23pc increase in sales of its Tysabri multiple sclerosis drug, which brought in $1.5bn for Elan. They were also aided by the proceeds from the sale of its EDT drug delivery business.
This also helped the company to cut its debt level in half.