In Short

A round-up of today's other stories in brief

Tysabri sales improve for Biogen Idec

Biogen Idec, Elan's partner in multiple sclerosis drug Tysabri, has reported improved sales for the treatment.

The US biotechnology company said the roll-out of Tysabri was progressing steadily. "The roll-out is going nicely, but we're not declaring victory yet," Peter Kellogg, the company's outgoing chief financial officer, said in an interview.

Shares in Biogen rose more than 4 per cent after the release, which also saw the firm raise its forecast for the year. Revenue rose 17 per cent to $773 million (€559 million), driven by sales of Tysabri and Avonex, both multiple sclerosis drugs, and cancer drug Rituxan.

Sales of Tysabri were $72 million in the second quarter, of which Biogen received $48 million and Elan the remainder. - (Reuters)

Court sanctions MBO of Calyx

The High Court has sanctioned the management buyout (MBO) of IT services company Calyx by its chief executive Maurice Healy through his Stornoway company.

Earlier this month, shareholders in Calyx voted in favour of the MBO.

The last trading day of Calyx shares on the AIM and IEX markets is today.

Admission of the company's ordinary shares to trading on the AIM and IEX will be cancelled with effect from 7am tomorrow.

15% drop in ore at Lundin mine

Lundin Mining recorded a 15 per cent decline in the ore mined from its Galmoy lead and zinc mine in Co Kilkenny in the second quarter, a fall the company blamed on poor productivity from its longhole drilling rigs and work stoppages as a result of an ongoing pay dispute.

However, the Canadian company, which reported a 17 per cent increase in total ore mined from its sites in Portugal, Sweden and the Republic, said the quality of the ore mined from Irish soil increased to 12.9 per cent from 11.7 per cent.

Global Shares raises $3.69m

Employee share plan administration company Global Shares has raised $3.69 million (€2.67 million) in a preference share issue backed by IFG Group founder Richard Hayes, clients of KPMG and Enterprise Ireland.

Chief operations officer Maoiliosa Ó Culacháin said the new money would enable the firm to expand its operations in the US, Britain and China.

Shannon airport to extend terminal

Shannon Airport Authority (SAA) has been awarded planning permission for an extension to its €30 million terminal building. Plans for the extension coincide with the ending of the Shannon stopover, which is due in April next year.

McDonald's posts quarterly net loss

Restaurant chain McDonald's has posted a quarterly net loss after taking a big charge related to the sale of its outlets in Latin America.

Without the charge, earnings per share were up 27 per cent, maintaining the strong results McDonald's has posted in recent quarters as new products, extended hours and other initiatives boosted sales. Its second-quarter net loss was $711.7 million (€515 million), compared with a net profit of $834.1 million a year ago. - (Reuters)

PepsiCo profits rise by 13%

PepsiCo posted a greater- than-expected quarterly profit yesterday on a lower tax rate, higher sales of snacks and strength in international markets.

It reported earnings of $1.56 billion (€1.12 billion), or 94 US cents a share, for the second quarter, up 13 per cent from $1.38 billion, or 81 cents a share, a year earlier. - (Reuters)