The news has seen the shares of both companies fall steeply, with Elan having lost almost 70\% of its value after Monday's announcement. Two years ago Elan was the largest Irish PLC, with a value in excess of $20bn, but an accountancy scandal saw its shares fall from over €73 to €1.50 within a few weeks. Since then the stock had risen back to trade between €16 and €18 a share on the back of good restructuring news. However the withdrawl of Tysabri leaves Elan with almost no potential future revenue streams. The paitent who died had been taken in combination with another drug - Avonex - for the last two years. If it emerges that the death was as a result of taking Avonex, then it is possible Tysabri could be re-introduced to the market. However for the moment rival will be seeking to steal a lead in the potentially lucrative MS drug market.
The news has seen the shares of both companies fall steeply, with Élan having lost almost 70\% of its value after Monday's announcement. Two years ago Élan was the largest Irish PLC, with a value in excess of $20bn, but an accountancy scandal saw its shares fall from over €73 to €1.50 within a few weeks. Since then the stock had risen back to trade between €16 and €18 a share on the back of good restructuring news. However the withdrawl of Tysabri leaves Elan with almost no potential future revenue streams. The paitent who died had been taken in combination with another drug - Avonex - for the last two years. If it emerges that the death was as a result of taking Avonex, then it is possible Tysabri could be re-introduced to the market. However for the moment rivals will be seeking to steal a lead in the potentially lucrative MS drug market.
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