Business World: Biogen Idec, Elan, & Tysabri (Natalizumab)
Elan Shares Jump As Tysabri to Get Review
By THE ASSOCIATED PRESS
Published: November 18, 2005
Filed at 12:52 p.m. ET
DUBLIN, Ireland (AP) -- Shares in Irish drug maker Elan Corp. PLC jumped Friday after U.S. regulators announced they would accelerate their review of a key suspended drug, Tysabri.
On the Irish Stock Exchange in Dublin, Elan shares rose 4.4 percent to close at 9.24 euros ($10.81) amid renewed optimism about the multiple sclerosis-fighting drug. Elan is developing Tysabri in conjunction with Cambridge, Massachusetts-based Biogen Idec Inc.
The U.S. Food and Drug Administration said Thursday night it had granted Tysabri ''priority review'' status, which means that a decision on whether the drug can return to the U.S. market will be made within six months instead of the standard 10.
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Anthony H. Risser | neuroscience | neuropsychology | brain