DUBLIN ( TheStreet) -- Elan ( ELN), the Irish drugmaker, said it swung to third-quarter net income of $52.3 million, or 11 cents a share, from a year-earlier loss of $83.5 million, or 18 cents a share, as its multiple sclerosis drug Tysabri saw sales rise. Total revenue in the quarter rose to $287 million from $270.1 million. The company said it remains "on track" for full-year double-digit revenue growth and now expects adjusted earnings before interest, taxes, depreciation and amortization of about $75 million, better than it previously expected. Elan attributed the third-quarter turnaround to a gain from the closing of a transaction with Johnson & Johnson ( JNJ - Get Report) and "an improvement in operating performance which saw revenues grow, but operating expenses decline." Johnson & Johnson last month agreed to invest $885 million in Elan for an 18.4% stake. Elan's recorded sales of Tysabri increased 16% to $191.4 million in the third quarter of 2009 from $164.5 million a year earlier. -- Reported by Joseph Woelfel in New York . Follow TheStreet.com on Twitter and become a fan on Facebook.