April 28, 2005 While announcing Q1 financial results, Elan Pharma says it expects the MS drug Tysabri to come back to market in a matter of months, not years. The bravado was good for Elan’s shares, which gained 7.8%. Biogen Idec, co-developer of the drug, isn’t making any Tysabri promises, saying only that it would take the appropriate next steps. Nevertheless, Biogen Idec delivered solid, though not unexpected, results even without Tysabri, and shares of the stock are up 2.7%. We look at the financial pain inflicted by the withdrawal of Tysabri, with an eye toward the future of each company. More details...
