Elan says may return to profit in H2 2005 Wednesday February 18, 8:40 am ET
DUBLIN, Feb 18 (Reuters) - Irish drug maker Elan Corp Plc (London:ELN.L - News; NYSE:ELN - News) said on Wednesday it was possible it could return to profitability by the second half of 2005.
The company, which has been a slow recovery track since its stock collapsed in 2002, noted recent "significant advances" in its development of new products and an improvement in its capital structure following a radical asset-disposal programme.
"While there are a lot of moving pieces we do see the scenario under which we could return to operating profitability some time in the second half of 2005," the company said in a conference call to discuss its fourth-quarter results.
Earlier Elan announced it was filing for approval of its much-vaunted experimental drug Antegren as a treatment for multiple sclerosis a year ahead of schedule, sending its shares sharply higher.
ELN is a crap shoot. It is where the action money is going. News letters are all saying to buy, buy buy. No earnings. Debt. Classic bubble move that will get many into it and then slam them hard. Traders who have made a few dollars are now saying they can play the game. Can wee say 2000 all over again...
Guess your ignoring the blockbuster MS drug that finished trials a year early and is going for FDA approval in a few monthes. Dont know why this is on the CPN board but ELN is far from a piece a crap or a crapshoot. Easy double in 6 monthes to a year which is more than I can say about CPN(which I also own shares of)