Elan approaches breakeven on Tysabri gains
This article was originally published in Scrip
Elan narrowed its net loss to within striking distance of breakeven for the first quarter as revenues of its multiple sclerosis drug Tysabri (natalizumab) grew globally. Along with full-year revenue growth the Irish company's CEO Shane Cooke forecasts an operating profit this year for the first time in several years.
You may also be interested in...
AB Science has closed its IPO at just half of the value of its initial expectations. The gross proceeds of the French firm's offer were €27.5 million, compared with the €55.5 million it anticipated when it filed for the offering on 8 April. Of the total, the company secured $16.5 million from the sale of newly issued shares; the remaining €11 million went to selling shareholders.
Amgen's sales rebounded in the first quarter rising 9% to $3.6 billion after a disappointing end to last year. However, the introduction of new legislation for US healthcare has weighed on its forecast for the year, as it has done for many of its competitors.
Actelion's total revenues leapt up by 24% to CHF502 million ($467 million) during the first quarter due to stronger demand for its pharmaceuticals. The firm's net income rose by 30% to CHF133 million, while its diluted EPS increased from CHF0.83 in the first quarter last year to CHF1.09.