Elan revenues up in Q1

Elan’s net income was $68.2m, or $0.12 per diluted share, compared to a net loss of $6.8m, or $0.01 per diluted share, for the same period in 2010.

For the first quarter of 2011, Elan posted an operating income of $115.8m, compared to $32.7m for the same period in 2010.

Elan CEO Kelly Martin said the first quarter results provide further evidence as to their consistency in generating progress across all aspects of the business.

"Revenue growth from Tysabri combined with disciplined expense management has created meaningful operating leverage for the company," Martin said.

"We remain focused on driving further operating leverage into our business. At the same time, we will continue to invest in both science and clinical activities that may differentiate Elan globally as it relates to innovation and focus on neuroscience."