Third Victim Linked to Tysabri

A third case of a nervous system disease has been linked to Elan and Biogen’s drug, Tysabri.

Last month, Tysabri was pulled from the shelves after two cases of the disease were discovered. The disease is called called progressive multifocal leukoencephalopathy, or PML.

According to MarketWatch,

“The development is a huge setback in Elan and Biogen’s efforts to bring Tysabri back to market after it was pulled from the shelves last month. The drug is considered key for Elan, its developer. Tysabri sales were expected to be about $210 million this year and reach a peak of $4 billion a year by 2009, according to SG Cowen research.

The Irish company is reviewing its costs and expects to update the markets on its businesses during its scheduled first-quarter results release in late April, a spokesperson told MarketWatch.”

Shares of Elan dropped 51% while Biogen dropped 10% overnight.

WebProNews | Breaking eBusiness News
Your source for investigative ebusiness reporting and breaking news.