Deutsche Bank Notes Tysabri PML Patients are Recovering (BIIB, ELN)
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Deutsche Bank issues an alert on Biogen-IDEC (Nasdaq: BIIB), noting that both Tysabri PML patients are recovering.
The firm highlighted that this morning during the EFNS meeting in Madrid, Spain, Dr. Ralf Gold of Germany, announced that both patients with PML are in recovery phase. One patient (in Scandinavia) is "out of risk" while the other patient (in Germany) is "in early recovery phase".
Deutsche Bank said the lack of new cases and recovery of these two cases may provide a short-term upswing for BIIB's stock. However, the firm remains cautious for the near-/mid-term as additional PML cases could create volatility for the stock.
NOTE: This is also a short-term position for Biogen-IDEC's Tysabri partner Elan Corp. plc (NYSE: ELN).
Biogen-IDEC is up 1.5% this AM and Elan is up 4%.
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