Revenues rise by 27% at Elan

Irish pharmaceutical company Elan today reported a 27 per cent increase in first quarter revenue to $429.3 million.

Commenting on the results, Mr Donal Geaney, Elan's chairman and chief executive said he was pleased with the company's performance.

Elan's three largest products - Zanaflex, for spasticity, Skelaxin, for muscular pain and Abelcet(TM), for fungal infections, all performed well, Mr Geaney said.

He said the company remains confident of recording revenue in excess of $100 million for each of these products this year.

Mr Geaney said the integration of US acquisition Dura is progressing well. The company expects to save $150 million in costs when the company is fully integrated with Elan's existing business.