Elan hammered by second death

SHARES in Irish drug company Elan were hammered again in Dublin yesterday as news of a second death linked to its multiple sclerosis drug, Tysabri, hit the market.

In Dublin shares in Elan, which developed the drug with its US partner Biogen Idec, suffered further losses and was down at €4.70 by late afternoon yesterday.

Tysabri has been on the market in the US since last November. It had been expected to get EU approval later this year.