ISEQ up as Elan makes gains

Strong performances from Elan and the financials saw the ISEQ index add 55.05 points to close at 6182.01 today.

Shares in pharmaceutical company Elan jumped 30c to €3.25 today, on the back of some good news from the States.

Data presented at the 57th annual American Academy of Neurology (AAN) meeting in Miami showed treatment with under-fire multiple sclerosis (MS) drug Tysabri led to a significant reduction in progression of the disease.

On February 28 this year, Elan and partner Biogen announced the voluntary suspension of Tysabri from the US market after two people taking the drug in conjunction with another drug, Avonex, died when they developed a central nervous system disease.

Positive trading in other stocks built on the Elan rise. AIB surged this afternoon to close up 28c at €16.68. Anglo Irish Bank closed up 5c at €19.78. Bank of Ireland fell 1c to €12.54. Irish Life and Permanent rose 15c to €14.