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Elan shares dive on drug setback

Shares in Irish drugmaker Elan have plummeted once more after a third case of disease linked to Tysabri, its multiple sclerosis treatment.

Elan suspended the drug after two patients were found to have caught the rare disease, one of whom later died.

The newly revealed case - which also ended with the death of the patient - could mean Tysabri never makes it back onto the market, analysts warned.

By the close of trading, Elan shares were down 56% to 2.43 euros.

More here.

March 31, 2005 in follow the money..., stocks, tysabri | Permalink