Irish pharmaceuticals group Elan said today it remains confident of achieving revenues of $2 billion in 2001, buoyed by the launch of new products.
Mr Seamus Mulligan, executive vice president for corporate and business development, told an ABN AMRO Alfred Berg life sciences conference today that meeting the goal would put the company on the road to its long-term target of revenues of $5 billion by 2005.
Elan, which recorded revenues of $1.48 billion last year, is seeking to broaden its portfolio with the launch of more products.
Ziconotide for severe pain, and Frovelan, for migraine, are both set to go on sale this year, while the existing portfolio of drugs should increase their market penetration.
Mr Mulligan said Elan aimed to be among the world's top 20 pharmaceutical companies within five years and to derive at least 90 per cent of revenues from product sales by 2005, as it reduces its reliance on licence fees and royalties.