Elan, Biogen Decline on Report of New Tysabri Illness[ ... Read the full report ... ]
June 2 (Bloomberg) -- Shares of Elan Corp. and Biogen Idec Inc. tumbled after a fourth possible case of a rare and often fatal nerve disorder was reported in a patient taking the companies' withdrawn Tysabri multiple-sclerosis drug.
Biogen and Elan are investigating the newest report of a Tysabri patient with symptoms consistent with the disorder, Lenore Gelb, a U.S. Food and Drug Administration spokeswoman, said today. Elan shares fell 83 cents, or 13 percent, to 5.47 euros in Dublin. Biogen lost 4.3 percent on the Nasdaq Stock Market. The Boston Globe reported the case earlier today.
The report hasn't been confirmed to be the disease, called progressive multifocal leukoencephalopathy, as have three other cases, Gelb said. Biogen and Elan withdrew Tysabri Feb. 28 after the potential $1 billion drug was linked to the disorder. Two of three patients who developed the disease have died.
Anthony H. Risser | neuroscience | neuropsychology | brain