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ELAN REPORTS INCREASED REVENUE AND EARNINGS FOR THIRD QUARTER - FISCAL '92

 ELAN REPORTS INCREASED REVENUE AND EARNINGS FOR
 THIRD QUARTER - FISCAL '92
 ATHLONE, Ireland, Feb. 4 /PRNewswire/ -- Elan Corporation, plc (AMEX: ELN), said today its earnings for the third quarter ending Dec. 31, 1991, rose 100 percent to 3,035,000 Irish pounds (US$5,302,000) from IRP 1,517,000 ($2,694,000) for the same period last year.
 Earnings per share increased to IRP 0.14 ($0.25) per share from IRP 0.09 ($0.17) per share.
 Revenue for the quarter was IRP 14,885,000 ($26,004,000) versus IRP 9,936,000 ($17,646,000) for the third quarter in fiscal 1991.
 Revenue for the nine months ended Dec. 31, 1991, increased to IRP 40,769,000 ($71,223,000) from IRP 30,191,000 ($53,619,000).
 Net income for the nine months was IRP 8,534,000 ($14,909,000) compared to net income of IRP 4,307,000 ($7,649,000) in the corresponding period last year. Earnings per share was IRP 0.43 ($0.75) compared with IRP 0.27 ($0.48).
 Elan's chairman and chief executive officer, Donald E. Panoz, has attributed the continued strong performance to the company's planned growth strategy across each of its operating units.
 In commenting on the results, Panoz stated that "the company's main cardiovascular products, Cardizem SR and Verelan, continue to achieve market growth in the U.S. In addition, at the year end our once-daily version of Cardizem (Cardizem CD) received approval from the U.S. Food and Drug Administration and is presently being marketed by Marion Merrell Dow.
 "In December, we received European Community CPMP recommendation for approval for our once-daily formulation of Nifedipine (the largest selling calcium channel blocker in Europe and the U.S.). This product has been launched in the U.K. by Rhone Poulenc Rorer under the brand name Nifensar XL and will shortly be launched throughout the other European countries."
 Elan Corporation, plc is a 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, Republic of Ireland; Gainesville, Ga.; Enschede, Netherlands; Manila, Philippines; Brea, Calif.; and Cambridge, Mass.
 NOTE: Third quarter results translated for convenience at the closing rate on Dec. 31, 1991, of US$1.7470 equals 1.00 Irish pound. On Dec. 31, 1990, the closing rate was US$1.776 equals 1.00 Irish pound.
 -0- 2/4/92
 /CONTACT: 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: MTC SU: ERN


GK-ST -- NY013 -- 6550 02/04/92 09:35 EST
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Publication:PR Newswire
Date:Feb 4, 1992
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