Shares in Elan drop by 7%

ELAN shares tumbled almost 7% in Dublin yesterday after it said it would hold off on releasing data from trials of its Antegren drug.

Shares in Elan drop by 7%

The company said it would only release further information on the proposed treatment for multiple sclerosis, a disorder that affects the nervous system, when Antegren had received approval from US drug authorities.

Davy analyst Jack Gorman said the news was of no relevance to the product launch or the integrity of the trial data. But it meant Elan would not be in a position to make the data public in time for a meeting of the European Committee for Treatment and Research in Multiple Sclerosis in October, he said.

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