A newly approved Chinese drug for Alzheimer’s will start clinical trials in Europe and the US next year as the country’s first novel therapy for the incurable disease seeks global legitimacy.

Swiss pharmaceutical firms Novartis and Lonza separately deepened their push into so-called biosimilars, betting cheaper copies of name-brand drugs will make headway among cost-conscious governments.

The medication is used mostly by children with Spinal Muscular Atrophy (SMA).

A duffel bag containing human remains was found outside a US biotechnology building in Cambridge, Massachusetts on Saturday morning, and one person was later arrested in connection with the grisly discovery, authorities said.

Biogen Idec’s research chief yesterday said the company is planning a late-stage trial of its experimental treatment for Alzheimer’s disease after the drug cut brain plaque levels and significantly improved cognition in a small early-stage study.

Biogen Idec yesterday reported $286m (€207m) in third-quarter sales of its high-profile new multiple sclerosis drug Tecfidera, providing fresh evidence that the medicine is off to an impressive launch and exceeding expectations.

Dublin-headquartered biotechnology company Elan has posted an income of $2.28bn (€1.7bn) for the second quarter of 2013, compared to a net loss of $28.5m for Q2 in 2012.

Elan shareholders have unanimously voted in favour of the company’s share buyback plan, which will see nearly a third of the proceeds of its sale of multiple sclerosis drug Tysabri returned to investors.

Elan has announced a restructuring of its multiple sclerosis drug Tysabri deal with Biogen Idec, under which Biogen will fully own and control of the drug.

Drugmaker Elan’s fourth quarter revenues fell by a higher-than-expected 14% on the sale of its drug delivery business, a hit it sees itself making up for through sales of multiple sclerosis drug Tysabri in 2012.

Elan directors Vaughn Bryson and Jack Schuler have agreed to suspend their Irish High Court proceedings against the drugs company and resign from the board.

Dublin/Boston: Elan, along with its product partner Biogen, has reported another increase in instances of rare brain disease PML among users of its headline multiple sclerosis/Crohn’s disease treatment Tysabri.

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.

BIOGEN Idec Inc reported second-quarter earnings that topped expectations yesterday but sales of its key multiple sclerosis drug Tysabri were lower than expected, pushing the company’s shares down as much as 2.7%.

A new US study has found that the risk of a potentially fatal brain disorder increases as patients recieve more infusions of Elan's multiple sclerosis drug Tsyabri.

BIOGEN IDEC – the Boston-based pharmaceutical firm which co-owns the Tysabri multiple sclerosis drug with Athlone-based Elan – is set to re-instate monthly updates of outbreaks of PML, the rare brain disease which is a potential side effect of using Tysabri, after announcing four further cases of the condition.

ELAN’S share price fell nearly 20.5% (88c) to €3.42 yesterday, after the European Medicines Agency said it planned to review Tysabri — the MS drug co-owned by Elan and US drug firm Biogen Idec.

INTERNATIONAL healthcare giant Johnson & Johnson (J&J) formally became a significant shareholder in Irish pharmaceutical firm Elan yesterday as its amended equity investment deal was finally completed.

SHARES in Irish pharmaceutical firm Elan rose 20c, or nearly 4%, yesterday after it successfully fixed its Tysabri collaboration breach with Biogen Idec, by renegotiating its equity sale deal with Johnson & Johnson (J&J).

IRISH pharmaceutical firm Elan will have to restructure its €1 billion strategic development deal with US healthcare giant Johnson & Johnson (J&J) before the end of this month.

ELAN’s share price rose yesterday despite the report of another case of the rare brain disease PML, a potential side-effect of the multiple sclerosis treatment, Tysabri.

ELAN Drug Technologies (EDT) — the drug delivery arm of Irish pharmaceutical firm, Elan — stands to make nearly $8 million (€5.7m), before additional payments, from its manufacture of a new multiple sclerosis (MS) treatment for US pharma firms, Acorda Therapeutics and Biogen.

AMERICAN pharmaceutical company Biogen has reported another case of rare brain disease PML in a patient using the multiple sclerosis drug Tysabri – which is co-owned by Dublin-based pharma, Elan.

CONTINUED research into a treatment for the rare brain disease PML — which is a potentially fatal side effect of the Tysabri multiple sclerosis (MS) drug — could result in a marked acceleration in revenue at Irish drug-making firm Elan.

THE makers of the multiple sclerosis treatment, Tysabri — Irish drug firm, Elan and its US counterpart, Biogen Idec — have reiterated confidence in global patient numbers for the product rising from 35,500 to 100,000 in the next two years, even in the light of another death occurring among users.

THE Irish pharmaceutical company Elan yesterday refused to withdraw its drug Tysabri from the market, saying its side effects are worth the risk.

ELAN said yesterday that it is fully committed to its multiple sclerosis treatment Tysabri after its production partner — the US-based company Biogen Idec — announced it was not about to be taken over and would remain independent.

THE Irish exchange closed in negative territory despite a strong price increase from Elan.

ELAN is to enter into talks to settle a lawsuit taken against the company by the family of a woman who died after taking its multiple sclerosis drug Tysabri.

ELAN and its partner Biogen Idec have begun a new trial on patients of the multiple sclerosis drug, Tysabri, banned from the market in February 2005.

THE Irish market rebounded as the construction and banking stocks found favour with investors. The ISEQ index jumped 101.92 points to finish at 8006.79.

ELAN could be well-positioned to start profiting from its anti-Alzheimer’s products over the next decade, with two of its drugs for treating the degenerative disease potentially delivering combined annual sales of around $5 billion (€4.18bn) by 2015.

Pharmaceutical companies Elan and Biogen plan to begin a new international study of multiple sclerosis drug Tysabri in the coming weeks after the US Food and Drug Administration (FDA) removed the hold on clinical trial dosing of the drug.

Review of the year compiled by Niamh Hennessy.

Elan and Biogen Idec are hoping to relaunch their drug Tysabri to the market as a treatment for multiple sclerosis.

Elan led the way today as the ISEQ index of shares rose 14.93 points to 6755.76 today.

The ISEQ index of Irish shares rose 54.47 points to 6795.3 today.

Pharmaceutical company Elan has said a safety evaluation of multiple sclerosis (MS) and Crohn's disease drug Tysabri in MS patients resulted in no new confirmed cases of potentially fatal progressive multifocal leukoencephalopathy (PML).

THE ISEQ index had another positive day yesterday with the financials contributing strongly.

Conor Keane, Business Correspondent

SHAREHOLDERS in the troubled Elan Corporation gather in Dublin tomorrow for the annual general meeting (AGM).