Elan reports financial results

Elan Corp. plc (NYSE:ELN) reported 4Q11 revenues of $271 million, below the Street's estimate of $279.4 million and down 12% from $308.9 million in 4Q10. The company recorded a diluted GAAP loss per share of $0.23, compared to a loss per share of $0.09 in 4Q10. The Street expected a loss per share of $0.03. Global sales of autoimmune drug Tysabri natalizumab rose 14% to $379.6 million in the fourth quarter. Elan recognized 4Q11 Tysabri revenue of $270.6 million, up 18% from $229.4 million in 4Q10. Tysabri is partnered with Biogen Idec Inc. (NASDAQ:BIIB). For the year, total revenues rose 7% to $1.2 billion on diluted EPS of $0.94. In 2010, Elan reported a loss per share of $0.56.

Elan introduced 2012 adjusted EBITDA guidance of about $200 million, which would be a 35% increase from $146.7 million in 2011. The company expects revenue of about $1-$1.25 billion in 2012. ...