Pharmaceutical firm Elan has announced that its revenues rose by 14% ($66m) to $526m in the second quarter of the year.
The company attributed the increase to a 30% rise in income from Tysabri, which is used to treat multiple sclerosis and Crohn's disease, and a 10% increase in revenues from Elan Drug Technologies.
Commentinng on the results, Elan executive vice-president and chief financial officer Shane Cooke said that there had been a 55% increase in the net number of patients using Tysabri since the first quarter.
Operating losses fell by 54% from $36m to $16.5m, with pre-tax losses also reduced to $52.3m – down from $69m in the same period in 2008.
The firm's operating loss for the first half of the year fell by over $10m from $81.6m to $71.3m. The net pre-tax deficit for the same period was just under $141m, compared to $152m at the same point last year.
Earlier this month, Elan announced that US drug maker Johnson & Johnson is to take an 18.4% stake in the company as part of a deal under which it will take over some of Elan's research into the treatment of Alzheimer's disease.
Elan confirmed that its deal with Johnson & Johnson - under which the US firm will take an 18.4% stake in Elan - includes an option for J&J to acquire a 50% stake in Tysabri.
Elan and Biogen have a 50-50 partnership on Tysabri, under which each has the right to take full control in the event of a change of control at either company.
Elan chief financial officer Shane Cooke told reporters that, if there were a change in control at Biogen, J&J could fund Elan's purchase of the 50% stake. There would then be a 50-50 collaboration between Elan and J&J, he said.
Elan has also said it will de-list from the London Stock Exchange due to low volumes but retain its primary Dublin listing and a presence on the New York Stock Exchange.
Elan shares closed down 10 cent at €5.58 in Dublin.
