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Thursday March 31, 08:05
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Tysabri of Elan and Biogen kills patients and stocks
(by Helen Snow)
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Wednesday’s announcement about the death of the patient who was enrolled in a clinical trial testing Tysabri because of progressive multifocal leukoencephalopathy(PML), influenced the market position of Ireland’s biggest drugmaker Elan Corp. and its U.S. partner Biogen Idec.
The failure reduced to zero the companies’ efforts to bring Tysabri, a rival to Teva Pharmaceutical Industries’ drug Copaxone, back to market after it was suppressed last month. Now the market future of the drug became uncertain, experts said on Thursday.
"We hope to gain a better understanding of PML and any potential risk of PML with Tysabri," Biogen’s spokesman Jose Juves said.
PML, a rare disease, is most often seen in cases with patients suffering from immune systems disorder, such as those suffering from AIDS.
Biogen and Elan made shocking announcement on Feb. 28 when they declared their decision to take their newly registered drug Tysabri out of the market after two patients had been diagnosed with PML. One patient has since died. The third newly discovered case brings more danger for Tysabri’s future, as the patient in question has been treated with Tysabri alone, without other drugs of the similar effect.
After Thursday’s announcement, shares of Biogen Idec fell 11% to $34, and shares of Elan Corp. tumbled 50% closing at 2.70 euros in London.
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