Multiple sclerosis drug boosts Elan shares

ELAN shares continued to gain ground yesterday, rising by almost 3% after it asked the US drug regulator to have multiple sclerosis treatment approved for release.

The company said it made the application based on results from trials of the treatment with patients, and said it had the potential “to become an important new therapy” for multiple sclerosis.

The application was made to the US Food and Drug Administration, which will have to decide if the treatment is suitable to be released for patients.