Summary Box: Irish drugmaker Elan suffers loss

AP News
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Posted: Oct 27, 2010 4:07 PM
Summary Box: Irish drugmaker Elan suffers loss

THE BASICS: Irish drugmaker Elan Corp. reported a third-quarter net loss as it paid down debts, cut research and development costs, and focused on increasing sales of drugs that combat multiple sclerosis.

MS DRUGS: Elan's share of revenue from its major MS fighter, Tysabri, rose 13 percent. Elan also reported strong initial U.S. sales for a new anti-MS drug, Ampyra, that helps people battling the neurological disease to walk more easily.

THE POTENTIAL: Elan said the number of MS patients taking Tysabri has risen 20 percent over the past year to 55,100, half of whom are in the U.S. The market for Tysabri continues to grow in line with its reputation as particularly effective in suppressing MS symptoms.