MS drug to double Elan share price

Hedge fund manager Larry Feinberg sees shares of Irish drug maker Elan Corp doubling this year, boosted by a partnership to develop a potentially big drug for multiple sclerosis, according to Barron’s online edition.

He expects at least half of the 180,000 MS patients on drug therapy in the US to switch to Tysabri by the end of 2007. The drug is twice as effective as anything now in use and has few side effects, said Barron’s.

Feinberg runs Oracle Partners, a fund specialising in health-care companies.