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ELAN (ELN)

10.000 Patients on Tysabri

Tysabri is Adding 300 patients Every week.

Losses Narrow and the Firm Should Reach the Beak-Even By the End of 2007

    Elan’s (ELN) losses are smaller than expected. Yet, by whom. Tysabri’s sales are mounting and we believe that the drug is superior to all other marketed drugs, which will increase the numbewr of desperate patients that will eventually join the club. Elan reported a smaller fourth-quarter loss and higher sales, citing the expansion of the multiple sclerosis drug Tysabri as a major factor.

     Chief Financial Officer Shane Cooke said Elan -- which has been in the red since battling back from near-bankruptcy in 2002 -- should reach the break-even point by the end of 2007 thanks in part to the growing market for Tysabri.

     Elan’s net loss came to US$26.5 million (euro20.2 million) from US$58.3 million a year ago. Its quarterly sales rose to US$166.4 million (euro126.6 million) from US$140.4 million in the last quarter of 2005.

    For the full 2006 year, net losses declined to US$267.3 million (euro203.4 million) from US$383.6 million in 2005. Sales rose to US$560.4 million (euro426.5 million) from US$490.3 million.

Tysabri, is co-developed with Biogen Idec (BIIB) and was withdrawn shortly after its launch in February 2005 after being linked to a rare, usually fatal brain disease. The authorities did not impose the drug withdrawal, which was decided by the developers. At the time of Tysabri’s withdrawal, the FDA’s only heard comments were praising the drug’s uniqueness, superiority and efficacy.  

    According to Elan and before it Biogen Idec, about 10,000 sufferers of MS are now using Tysabri. The firm added that about 300 were signing up each week to begin taking the drug, which is administered by intravenous infusion at specialist clinics every four weeks

Elan's chief executive officer, Kelly Martin, said the company also expected progress in clinical trials for its investigational drugs for Alzheimer's disease. Martin said Elan's "commitment to the scientific and clinical pipeline, particularly Alzheimer's disease, has never been greater. We expect to make tangible progress in all areas of our portfolio over the course of the year."

     Let’s hear the conference call today at 8.30.

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