Elan shares fall 11% on trial result

Elan’s share price fell by more than 11% yesterday, following disappointing trial results for the Alzheimer’s treatment in which the biotechnology company has a 25% stake.

At Elan’s AGM two months ago, the firm’s management voiced hope for a commercial breakthrough for the Bapineuzumab Alzheimer’s treatment being developed by Pfizer and Johnson & Johnson and in the phase-three trial stage.

Elan added at the time that it should have a clearer idea whether the treatment has a commercial future by the end of this year.