| Elan Reports First Quarter 2007 Financial Results
DUBLIN, Ireland--(BUSINESS WIRE)--Apr 24, 2007 - Elan Corporation, plc today announced its first quarter 2007 financial results and provided a business update. Commenting on Elan's business, Kelly Martin, Elan's president and chief executive officer, said, "2007 started strongly in terms of revenue growth, operating improvements and continued advancements in the pipeline. Of particular note this quarter is the receiving of Fast Track designation from the FDA for ELND-005 in the area of Alzheimer's, continued progress in the drug technology portfolio and associated royalty streams, as well as the progress made in the Tysabri patient uptake for MS in both Europe and the US. Our focus and commitment continue to center on delivering results for shareholders that allow us to accelerate towards profitability and drive value for the near, intermediate and long term." Commenting on Elan's first quarter financial results, Shane Cooke, Elan's executive vice president and chief financial officer, said, "We are very pleased with the strong start to the year reflected in revenue growth of 31% and a reduction of two-thirds in Adjusted EBITDA losses resulting from the continued improvement in operating margins.
South Africa: Interview with President Mbeki
FT: There was an important regional summit in Dar es Salaam and you have been given a mandate to mediate on a solution to this crisis. How are you intending to find a solution and how is your role different from four years ago when you were given a similar role? President Mbeki: Well, the first thing I would like to say is that the Southern African Development Community (SADC) Summit said there are three major areas of concern to the region about Zimbabwe. One of them is the political situation; second is the economic situation; and the third is Zimbabwe's international relations. It said that the region had to address all three matters. The Summit decided that with regard to the political issues, the critical intervention that it needs to make is to encourage the ruling party and the opposition to enter into the necessary dialogue to find a solution to those political problems.
Coventry Health Care Reports First Quarter Earnings
Business Editors BETHESDA, Md.--(BUSINESS WIRE)--April 27, 2007--Coventry Health Care, Inc. (NYSE: CVH) today reported operating results for the quarter ended March 31, 2007. Operating revenues totaled $2.24 billion for the quarter. Excluding the $0.04 debt refinancing charge incurred during the quarter, net earnings were $127.5 million, or $0.80 per diluted share. First quarter GAAP net earnings including the refinancing charge were $121.7 million, or $0.76 per diluted share. "We are right on track for another year of strong growth in revenue and earnings per share," said Dale B. Wolf, chief executive officer of Coventry. "In the first three months of the year we announced a meaningful acquisition, repurchased four million shares, refinanced debt at favorable rates, and successfully launched Medicare PFFS.
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