Elan losses fall as hopes high for Tysabri

DRUG company Elan has reported a fall in third-quarter losses and is upbeat about the prospect of getting its multiple sclerosis treatment, Tysabri, back on sale by the middle of next year at the latest.

Tysabri was withdrawn from sale in February after three patients who were taking the drug developed PML, a potentially fatal brain disease. Two of these patients died.

The withdrawal sent the value of Elan shares plummeting, wiping billions from its stock market value.