Biotechnology company Elan posted a net operating loss of $72.8 million for the first quarter of 2013, down from $74.7 million in the comparable period last year.
The company said that first quarter global sales of the MS drug Tysabri increased by 14 per cent to €456 million.
Elan recently completed the sale of its stake in Tysabri and said it now has about $2 billion in cash and cash equivalents as a result.
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