Macro Tsimmis

intelligently hedged investment

Élan (ELN) update #10

Posted by intelledgement on Wed, 16 Apr 08

Élan (ELN) shares closed up 11% to day at $24.30 in the wake of yesterday’s announcement that there were 26,000 world-wide users of tysabri as of the end of March…and still not a single case of Progressive multifocal leukoencephalopathy (PML). Tysabri was removed from the market after a couple of cases of PML back in 2005; the FDA approved its return to market in 2006.

The company has projected that 100,000 multiple sclerosis and Crohn’s disease patients will be using tysabri by the end of 2010, but at this rate—there were 21,000 users at the end of 2007—the number of patients, and concomitant revenues, are likely to be considerably higher.

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