MS drug to bolster Elan profits

ELAN and Biogen’s new multiple sclerosis drug, Tysabri, will be priced 30% dearer than expectations lifting the prospects of Elan returning to profitability in 2006.

Elan will charge US wholesalers $1,808 (€1,363.65) a dose, $23,500 (€17,724.47) a year based on a dosing every four weeks, the Athlone company disclosed yesterday.

The price is 30% more than expected by Goodbody Stockbrokers analyst Ian Hunter, who immediately raised his 2005 Tysabri sales estimates by almost 31%, to $834 million from $639 million.