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Pharmaceutical giant Elan has hailed the impact of its multiple sclerosis drug Tysabri (natalizumab) as it unveiled its third-quarter results.
The company reported a $53m rise in revenue to $176.6m compared with the same period of 2006.
Elan CEO Kelly Martin said: “During the quarter we continued to make tangible progress within our pipeline and gaining momentum for Tysabri.
“Continued focus on advancing our science and realising the full potential of our shared asset, Tysabri, in MS and additional indications will enable us to create value, diversify risk and position us for growth as we accelerate into the future.”
The firm’s vice-president Shane Cooke added: “We are very pleased to report that revenues increased by 43% and Adjusted EBITDA losses were reduced by two-thirds over last year, continuing the trend of the last couple of quarters.
“The increase in revenues was driven principally by the accelerating uptake of Tysabri, which generated in-market sales of nearly $100m on a worldwide basis this quarter.
“We were particularly pleased that during the quarter we exceeded the 15,000 patient target which we need for Tysabri to break even in the commercial setting for the MS indication.
“At the end of the quarter, there were about 17,000 patients on therapy, including about 1,000 in clinical trials.”
Copyright PA Business 2007
