Elan (ELN) and Biogen (BIIB) Sink After Disclosing Two Additional TYSABRI-Related PML Cases
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Elan Corporation (NYSE: ELN) and Biogen Idec (Nasdaq: BIIB) are down 34% and 15%, respectively, following disclosing that they notified relevant regulatory agencies of two confirmed cases of progressive multifocal leukoencephalopathy (PML) in multiple sclerosis (MS) patients treated with TYSABRI in the commercial setting.
Both PML cases were in the European Union. One patient is clinically stable and ambulatory at home and the other is currently hospitalized.
PML is a rare and often fatal disease that is characterized by progressive damage or inflammation of the brain.
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