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Athlone-based pharmaceutical company Elan has reported an increase of 24 per cent in revenue over last year’s figures.

Pharmaceutical company Elan has put plans to shed its Athlone division on hold, in spite of indications earlier this year that it was planning to separate the Athlone-based Elan Drug Technologies (EDT) from the rest of the company.

The CEO of Athlone’s biggest private employer, Kelly Martin of Elan, is to step down in 2012, the firm announced this week.

Local TD Denis Naughten has called on the Government to intervene to secure 500 new Elan jobs, following revelations this week that the company plans to eventually sell its Athlone plant.

A possible merger or sale are among the options currently being examined by Elan in order to secure the future of the company.

Two healthcare giants based in the midlands and the west have this week posted first quarter losses — despite a massive increase in sales in both companies.

Athlone-based company Elan is to receive an injection of $1.5 billion from drug company Johnson & Johnson, as part of a deal to expand Elan’s research into the treatment of Alzheimer’s.

The Monksland-based phamaceutical firm Elan has been summoned to appear in a Federal court in the US after disclosing two cases of a brain disorder related to its trump product, prior to a €605m ($885m) share sale earlier this month.