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Financial Report: Elan 2Q11

In-market Tysabri sales up 31%

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Elan 2Q11

2Q Revenues: $333.5 million (+24%)

2Q Loss: $47.1 million (loss of $217.9 million in 2Q10)

YTD Revenues: $646.5 million (+12%)

YTD Loss: $21.1 million (loss of $224.7 million YTD10)

Comments: Revenue from the BioNeurology business grew 27% in the quarter to $270.6 million, driven by recorded sales of Tysabri, which were up 30% to $269.3 million. Revenue from Elan Drug Technologies (EDT) business was up 12% to $62.9 million in the quarter, driven by increased Ampyra revenues and manufacturing orders related to Focalin XR/Ritalin LA. Loss in the quarter includes a loss on equity investments of $39.1 million related to the investment in Janssen Alzheimer Immunotherapy. Loss in 2Q10 includes a settlement reserve charge of $206.3 million related to Zonegran.

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