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LONDON (MarketWatch) -- Irish drugmaker Elan said Thursday that third-quarter net loss narrowed to $83.5 million, or 18 cents a share, from $87.4 million, or 19 cents a share, a year ago. Revenue climbed to $270.1 million, from $176.6 million. Strong revenue growth, together with an increased investment in R&D associated with the advancement of the firm's Alzheimer's clinical development programs, led to a decrease in quarterly losses. It said that continued growth in MS drug Tysabri boosted sales and margins, with the drug fast approaching blockbuster status. For the year, Elan is on track to record revenues approaching $1 billion and adjusted EBITDA losses of less than $50 million.

Irish drugmaker Elan on Thursday reported a narrower third-quarter net loss, helped by growing revenue from the controversial multiple-sclerosis drug Tysabri.

LONDON (MarketWatch) -- Indianapolis drugmaker Eli Lilly & Co. swung to a third-quarter loss of $465.6 million, or 43 cents a share, after its previously announced move to take $1.48 billion of charges to settle Zyprexa investigations. It earned $926.3 million, or 85 cents a share, in the year-earlier period. Excluding one-time items, Lilly would have earned $1.04 a share, up 14%. Sales rose 14% to $5.21 billion. Excluding the Zyprexa charge and other one-time items, it now sees 2008 adjusted earnings between $3.97 and $4.02 a share, up from its previous estimate of earnings between $3.85 and $4 a share. Analysts polled by FactSet expected earnings of $1.02 a share for the quarter and $3.94 for the year.

NEW YORK (MarketWatch) -- Bristol-Myers Squibb Co. said Thursday that its third-quarter net income tripled to $2.58 billion, or $1.29 a share, from $858 million, or 43 cents, a year earlier. Sales rose to $5.25 billion from $4.6 billion. The company raised its 2008 profit to $1.61 to $1.66 a share, subject to it receiving cash for its ownership of ImClone, which agreed to sell itself to Eli Lilly.

BOSTON (MarketWatch) -- Eli Lilly & Co. said Thursday that it swung to a loss in its third quarter, hurt by a previously announced charge to settle Zyprexa investigations.

NEW YORK (MarketWatch) - IMS Health , a healthcare and pharmaceutical market researcher, said Thursday that its third-quarter net income rose to $75.9 million, or 41 cents a share, from $57.1 million, or 29 cents, a year earlier. Revenue rose to $573.7 million from $538.8 million. Excluding non-recurring items, the company said it would have earned 43 cents a share. The company was expected to earn 38 cents a share, according to FactSet.

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Bristol-Myers Squibb posts a third-quarter profit nearly triple that of a year ago, due primarily to proceeds received from the company's disposal of ConvaTec.

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BOSTON (MarketWatch) -- Amgen Inc. and Bristol-Myers Squibb lead drug stocks higher early Thursday, buoyed by both companies' positive third-quarter earnings reports. The Amex Pharmaceutical Index hopped 1.9% to 257.42 and the Amex Biotechnology Index edged up 0.9% to 643.92, outpacing the Dow Jones Industrial Average . Shares of Bristol-Myers jumped 3% to $18.01 as shares of Lilly leapt 4% to $33.23.