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Financial Report: Elan

Records $12.1 million in Tysabri royalties in the quarter

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Elan
 
3Q Revenues: $48.6 million (n/a)

3Q Loss: $13.8 million (loss of $229.9 million 3Q12)

YTD Revenues: $105.1 million (n/a)

YTD Earnings: $2.3 billion (loss of $290.2 million)

Comments: Following the transfer of Tysabri rights to partner Biogen, Elan receives royalties on Tysabri in-market sales.The company recorded $12.1 million in the quarter, reflecting the first full quarter of the new royalty arrangements on Tysabri. Shareholder meetings in November will address the progression of the proposed acquisition of Elan by Perrigo. Loss in the quarter was impacted by costs associated with the Perrigo transaction. 
 

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