Revenues at drug developer Elan fell 2 per cent to $281 million in the third quarter from $287 million a year earlier.
However, for the nine months ending September 30th, the company recorded total revenue of $860.8 million, up 6 per cent from the $813.0 million announced for the same period in 2009.
During the third quarter, Elan recorded a net loss of $43.6million as against net income of $52.3m last year due to the inclusion of a €107.7m net gain from the Johnson & Johnson deal in September 2009.
Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 61 per cent to $38.2million in the third quarter
The company said revenue from its BioNeurology business increased marginally during the three-months under review while revenue from the Elan Drug Technologies (EDT) division decreased by 9 per cent.
The increase in revenues from the BioNeurology business was driven by increased revenues from Tysabri, sales of which rose 13 per cent to $215.9 million from $191.4 million a year earlier.
There was 9 per cent growth in global in-market net sales of Tysabri to $307.2 million in the third quarter from $281.6 million in the same three-month period in 2009.
The 9% decline in revenue from the EDT business in the third quarter of 2010 was due in part to reduced revenues from Skelaxin.
Total revenue for the nine months ended September 30th, increased by 6 per cent due to the increased sales of Tysabri and the launch of Ampyra, which offset the expected decline in revenues from Azactam, Skelaxin and Prialt.
