Elan reveals revenue growth in latest figures
Financial results announced today by Elan show a revenue growth of 38% thus boosting profits for the corporation.
As its second quarter 2007 financial results were revealed, Elan president Kelly Martin said: "We continue to make progress in our pipeline and focus on moving our science towards the patients.
Business discipline and growth in both Tysabri and EDT should provide a solid platform for continued advancement throughout the balance of the year".
Also commenting on Elan's financial results, Shane Cooke, Elan's executive vice president and chief financial officer, said: "We are very pleased with the progress we have made in the second quarter of the year with revenue growth of 38% and a reduction of two-thirds in Adjusted EBITDA losses as we continue to carefully manage our cost base.
Tysabri had a solid quarter with approximately 14,000 patients on therapy as of mid-July 2007, an increase of over 40% from when we reported last quarter. We expect Tysabri to continue to drive revenue growth."
