TYSABRI LEADS ELAN IMPROVEMENT - Things appear to be on the up for pharmaceutical company Elan, which this morning has reported a pre-tax loss of $129.8m for last year, a 56% improvement on the loss for 2008. And it forecasts a return to profit for next year.
Last year its revenue rose by 11% to $1.1 billion - this came from a 30% increase in revenue from its Tysabri treatment for multiple sclerosis.
48,800 people are now using Tysabri worldwide, up 6% from the end of September and 30% compared with a year earlier.
The company's chief financial officer Shane Cooke said the company was confident revenue would grow in 2010, though it was not giving specific forecasts for Tysabri. But Mr Cooke said he expected to see the number of people using Tysabri reaching close to 100,000 over the next several years.
He said a deal with Johnson & Johnson last year had brought stability to its finances and cut its debt.
Mr Cooke said the future of its 500 staff in Athlone was secure, and a newly-approved drug called Ampyra would be manufactured at the facility. 'If anything, we will be adding people in that site,' he said.
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NEWS AND CURRENCIES - Honda has said it will recall another 440,000 cars around the world for faulty airbags as rival Toyota faced further probes over its safety crisis.
Honda, Japan's number two car maker, has now recalled almost 950,000 vehicles for the airbag problems linked to one fatality and a total of 11 injuries in the US.
While car recalls are not uncommon and the size of Honda's is not massive, it comes at a sensitive time for the industry.
Toyota, the world's largest car maker, is facing a storm of criticism over safety issues and its response to them. There are already 30 lawsuits filed against Toyota.
Mobile operator 3 is creating 90 jobs as it opens new retail stores.
On the currency markets the euro is trading at $1.3772 and 87.83p sterling.
