Elan expects earnings jump

Irish drugmaker Elan expects to post a 20 per cent jump in 2011 adjusted core earnings after a five per cent increase in 2010 revenue and cost cuts enabled it to record its first operating profit since 2001. Elan, in which US group Johnson & Johnson is an 18 per cent shareholder, reported a five per cent increase in full-year revenue to $1.2bn (£745m) yesterday, close to the $1.16bn forecast.