The Day In Review: Tysabri Recall Slams All Of Biotech
February 28, 2005 Investors were shocked to learn that Tysabri, the blockbuster Multiple Sclerosis drug from Biogen Idec and Elan, would suspend all sales, following the death of one patient and a case of progressive multifocal leukoencephalopathy (PML) in another. The spill-over damage was huge. The Centient Biotech 200 lost 4.26% on the day. The average was lower by 142.74 points at 3205.34. That number was a new closing low for 2005 and within 120 points of its low point over the past 52 weeks. We look at the recall, including both winners and losers, the King-Mylan Labs failed merger, plus good clinical news for RegeneRX and YM BioSciences.