Elan sends ISEQ reeling

The ISEQ-index suffered a massive blow this morning as pharmaceutical heavy weight Elan issued a warning to regulators that two more cases of brain disease have been linked to the company's multiple sclerosis drug Tysabri.

The Elan share price collapsed by more than 50% on the after two new cases of the brain disease PML were identified in patients using its drug Tysabri.