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Merrion sees $200m Elan loss.
(From Irish Independent)
LOSSES at Elan for this year could be as high as $200m following the announcement in the past two days that the company has sold two more products.
The sale of the North American marketing rights for migraine drug Frova for $55m and epilepsy treatment Zonegran for $130m would also see annual revenues plunge by$100m, analysts said.
Merrion Stockbrokers analyst Peter Frawley has estimated losses for this year of between $180m and $200m, up from $150m to $170m.
Elan should receive $280m in total for the two products when earn-outs are added in, which is less than the valuation put on them, Mr ...
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