Elan Reports Second Quarter And First Half 2012 Financial Results

A reconciliation of Adjusted EBITDA from continuing operations to net loss from continuing operations, is presented in the table titled, “Unaudited Non-GAAP Financial Information – Adjusted EBITDA,” included on page 3.

Total Revenue

For the second quarter of 2012, revenue increased by 6% to $288.0 million from $270.6 million for the second quarter of 2011. For the first half of 2012, revenue increased by 11% to $576.4 million from $517.7 million for the first half of 2011.

Three Months Ended June 30						Six Months Ended June 30
2011 US$m		2012 US$m				2011 US$m		2012 US$m
				Product revenue
183.1		211.5		Tysabri – U.S.		353.0		412.5
86.2		76.9		Tysabri – ROW		161.5		164.1
269.3		288.4		Total Tysabri		514.5		576.6
0.7		—		Maxipime		0.7		—
0.4		(0.5)		Azactam		0.4		(0.5)
0.2		0.1		Royalties		2.1		0.3
270.6		288.0		Total revenue		517.7		576.4

Tysabri

Global in-market net sales of Tysabri can be analyzed as follows:

Three Months Ended June 30						Six Months Ended June 30
2011 US$m		2012 US$m				2011 US$m		2012 US$m
183.1		211.5		United States		353.0		412.5
205.9		184.0		ROW		385.4		382.0
389.0		395.5		Total Tysabri in-market net sales		738.4		794.5

At the end of June 2012, approximately 69,100 patients were on therapy worldwide, including approximately 31,900 commercial patients in the United States and approximately 36,400 commercial patients in the ROW, representing a 4% increase over the approximately 66,700 patients (revised) who were on therapy at the end of March 2012, and 13% over the approximately 61,200 patients (revised) who were on therapy at the end of June 2011.

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