Elan's Tysabri patient number impresses analysts

07.22.08, 5:32 AM ET
DUBLIN, July 22 (Reuters) - Irish drugmaker Elan Corp said on Tuesday that more than 31,800 patients worldwide were receiving its multiple sclerosis (MS) drug Tysabri at the end of June, exceeding the expectations of several analysts.

The Dublin-based group said in May it expected to make a profit in 2010 thanks to growing sales of the drug, with 100,000 patients on Tysabri therapy targeted by the end of 2010.

Elan and U.S. partner Biogen Idec , which co-developed Tysabri, said in a joint statement they had more than 17,800 patients on Tysabri commercially in the United States, 13,400 outside the U.S. and 600 in clinical trials.

'The numbers are impressive at 1.6 percent ahead of our expectations,' Davy analyst Jack Gorman said.

Goodbody analyst Ian Hunter said the 31,200 commercial patients figure was above his forecast for 30,700.

Tysabri returned to the market with tougher MS prescription guidelines in 2006 after sales were suspended in 2005 over links to a rare and potentially fatal brain disease.

In May, Elan said 26,000 patients were using Tysabri, which was also launched in the United States in March as a treatment for Crohn's bowel disorder.

Biogen reports second quarter earnings on Tuesday, with Elan's due on Thursday.

Shares in Elan traded 2.3 percent lower by 0756 GMT, broadly in line with a 2.4 percent weaker Irish market <.ISEQ>.

(Reporting by Andras Gergely; editing by Rory Channing) Keywords: ELAN/TYSABRI

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