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Elan Reports Third Quarter 2012 Financial Results

Operating Expenses

Excluding other net charges and gains, operating expenses decreased by 9% to $85.0 million for the third quarter of 2012, from $93.3 million for the third quarter of 2011.

Selling, general and administrative

Three Months Ended     Nine Months Ended
September 30 September 30
2011   2012 2011   2012
US$m   US$m       US$m   US$m
43.6 41.2 Cash expenses 128.5 143.1
2.3 1.8 Depreciation and amortization 7.4 6.0
3.0 5.0 Share-based compensation 10.3 18.8
48.9 48.0 Total 146.2 167.9
 

SG&A expenses decreased slightly to $48.0 million for the third quarter of 2012, from $48.9 million for the same period of 2011, primarily as a result of lower U.S. Tysabri sales and marketing expenses, offset by higher non-cash stock compensation expense.

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