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Financial Report: Elan 4Q

FY09 revenue from the Biopharmaceuticals business was up 20% to $837.1 million and for 4Q09 was up 28% to $231.9 million.

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By: Tim Wright

Editor-in-Chief, Contract Pharma


4Q Revenues: $300 million (+11%)

4Q Loss: $57.7 million (earnings were $169.5 million in 4Q08)

FY Revenues: $1.1 billion (+11%)

FY Loss: $176.2 million (loss of $71.0 million FY08)

Comments: FY09 revenue from the Biopharmaceuticals business was
up 20% to $837.1 million and for 4Q09 was up 28% to $231.9 million. Revenue growth was driven by Tysabri sales, up 30% for the year to $724.3 million, and for the quarter sales were $200.5 million (+32%). Azactam sales were $23.9 million in the quarter, up 15%, however for the year; sales were down 16% to $81.4 million due to supply shortages. Elan will stop distributing Azactam as of March 31, 2010. In the quarter, Maxipime sales were $3.8 million (+23%), while sales for the year were down 51% to $13.2 million, due to generic competition. Elan will stop distributing Maxipime as of September 30, 2010. R&D expenses were $52.2 million in the quarter (-36%).

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