Elan share price holds despite PML numbers

THE number of instances of rare brain disease PML in users of Tysabri (the multiple sclerosis drug co-owned by Irish pharmaceutical company, Elan) increased by five last month.

The increase, published jointly by Elan and its US partner in the drug, Biogen, brings to 63 the total number of cases reported. Thirty five of those cases have been reported since the beginning of this year.

However, given that the number of instances still fall within the drug’s stated risk guidelines, the new numbers didn’t adversely affect Elan’s share price; which actually closed yesterday marginally up at €3.81.