After more than 40 years in business, Elan Corp. is “just starting,” says Chief Executive Officer Kelly Martin. The Irish drugmaker may prove more rewarding for investors in its second life than in the first. Elan, which posted losses every year and a 78 percent stock drop over the past decade, is on the brink of profitability as sales soar for its only marketed product, the multiple sclerosis treatment Tysabri. Its American depositary receipts have risen 90 percent this year, the most of any European drugmaker with a market value of 500 million euros ($688 million) or more, Bloomberg data show.
