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ELAN EARNINGS UP 50 PERCENT THROUGH SECOND QUARTER

 ELAN EARNINGS UP 50 PERCENT THROUGH SECOND QUARTER
 ATHLONE, Ireland, Nov. 9 /PRNewswire/ -- Elan Corporation plc


(AMEX: ELN) today announced net income for the second quarter ended Sept. 30, 1992, of 4,006,000 Irish pounds (US$7,437,000) and earnings per share of 0.13 pounds ($0.23), up from 0.09 pounds ($0.15) in the corresponding quarter in the previous year. Net income for the six months ended Sept. 30 increased 51 percent to 8,280,000 pounds ($15,372,000). Earnings per share increased to 0.26 pounds ($0.48) from 0.19 pounds ($0.30).
 Revenue for the second quarter was 21,878,000 pounds ($40,616,000) compared to 12,237,000 pounds in the second quarter in the previous year and is analyzed as follows:
 Quarter ended Sept. 30 1992 1991 1992
 (IRP 000) (US$ 000)
 Contract development 3,616 1,948 $ 6,713
 License and option fees 233 131 432
 Royalties 2,626 2,196 4,875
 Manufacturing and distribution 15,403 7,962 28,596
 Total 21,878 12,237 $40,616
 Revenues for the six months ended Sept. 30 increased 61 percent to 41,587,000 pounds ($77,206,000) compared with the corresponding period in the previous year.
 "The continued growth stems from the success in the U.S. market of our three principal product ranges: Cardizem SR and CD, Verelan and Prostep and the introduction of products in other markets," said Donald E. Panoz, Elan's chairman and chief executive officer. "I am particularly pleased with the performance of Cardizem CD in the second quarter, which has gained significant market share since it was launched. I am also pleased with the recent announcements that our Athlone facility has been approved for the manufacture of Cardizem CD and that the product had been approved by the FDA for the treatment of angina.
 "Revenue growth in the six months has allowed us to increase our research and development expenditure by 59 percent to 5,502,000 pounds ($10,214,000), which reflects our commitment to continued investment in the development of products in our extensive pipeline which will provide long term growth for Elan."
 Elan Corporation is a world leader in the specialized health care field of advanced reformulations and drug delivery, concentrating on improved drug absorption and utilization. Elan operates research and manufacturing facilities in Athlone; Gainesville, Ga.; Brea, Calif.; and Cambridge, Mass., in the United States; Enschede, Netherlands; Manila, Philippines; and Mezzovico, Switzerland.
 -0- 11/9/92
 /CONTACT: Donald E. Panoz or Brian Crotty of Elan, 800-252-3526; or Thomas Redington, 203-222-7399 or 212-926-1733, for Elan/
 /FIRST AND FINAL ADD -- TABULAR MATERIAL -- TO FOLLOW/
 (ELN) CO: Elan Corporation plc ST: IN: HEA SU: ERN


GK-TS -- NY011 -- 8526 11/09/92 09:03 EST
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Publication:PR Newswire
Date:Nov 9, 1992
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