Elan surges as Tysabri set for US return

SHARES in Elan gained nearly 20% yesterday as the prospect of multiple sclerosis treatment Tysabri getting back on sale edged nearer.

More than €1 billion was added to Elan’s market value as the shares added €2.10 to close up at €13.40.

A US Food and Drug Administration advisory committee unanimously recommended on Wednesday that Tysabri, jointly developed by Elan and pharmaceutical company Biogen Idec, be allowed to go back on sale.