Ireland-based biotechnology company Elan has reported a net income of $2.29bn, or $4.28 per share, for the second quarter ended on 30 June 2013 compared to a net loss of $28.5m, or $0.05per share in 2012.
Operating loss for the second quarter of 2013 was $89.6m compared to $58.6m for the same quarter in 2012.
The net income for first half of 2013 was $2.35bn, or $4.16 per share, compared to net loss of $60.3m, or $0.10 per share, for the first half of 2012.
Operating loss for the first six months of 2013 was $156.5m compared to $115.4m for the same period in 2012.
Elan chief financial officer Nigel Clerkin said the second quarter results have been substantially impacted by the completion of the Tysabri transaction, the subsequent $1.0bn share buyback, debt retirements and other transactions.
"Our net income for the quarter, of $2,288.7 million, reflects the gain recorded on the Tysabri transaction of $2,540.2 million, while our sharecount was reduced by approximately 15%," Clerkin added.
