02.10.10
Elan 4Q
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%).