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Irish drugmaker Elan (ELN Quote) said fourth-quarter revenue rose by nearly $17 million from last year, and the company essentially halved its loss, citing strong growth in product sales and operating margins.
Revenue for the quarter totaled $140.4 million, compared with $123.8 million in the same period a year ago. Elan lost $58.3 million, or 14 cents a share, vs. a loss of $107.1 million, or 27 cents a share, last year.
Total product sales for the fourth quarter reached $132.7 million, an increase of 30% from $102.3 million recorded in the same period of 2004, mainly because of higher sales from marketed products and improved manufacturing revenue and royalties. ...
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