In demand Elan drives market higher

IRISH stocks gained, paced by Elan after US regulators approved its Prialt painkiller, an artificial copy of a compound found in a marine snail.

The ISEQ Index added 52.19, or 0.8%, to 6204.56. The ISEQ has climbed 26% this year.

Dragon Oil surged 16 cent to 97 cent. Elan rose 78 cent, or 4.1%, to €19.78. Kingspan gained 10 cent, or 1.4%, to €7.10.

The company, whose clients include Tesco Plc, aims to double sales by 2008 as tougher environmental regulations boost demand for heat- efficient building materials, co-founder Brendan Murtagh said in an interview in Dublin.