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Elan Reports Third Quarter 2012 Financial Results

The SG&A expenses related to the Tysabri ROW sales are reflected in the Tysabri ROW revenue as previously described on page 10.

Research and development
Three Months Ended     Nine Months Ended
September 30 September 30
2011   2012 2011   2012
US$m   US$m       US$m   US$m
40.4 34.0 Cash expenses 120.5 106.1
1.7 1.5 Depreciation and amortization 5.1 4.7
2.3 1.5 Share-based compensation 7.4 8.7
44.4 37.0 Total 133.0 119.5

R&D expenses decreased by $7.4 million to $37.0 million for the third quarter of 2012, from $44.4 million for the third quarter of 2011 primarily as a result of lower spend on early stage research activities that are not part of the Neotope separation and reduced spend on Tysabri development activities.

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