Elan (ELN) Pops Higher, Possibly Ahead of Gilenya Safety Review
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Shares of Elan (NYSE: ELN) are moving sharply higher Thursday. While there is no obvious news moving the stock, the action could be related to the EMA's finalized safety review of Novartis' (NYSE: NVS) rival MS drug Gilenya, expected as soon as tomorrow.
The FDA and EMA are investigating heart problems and deaths among Gilenya patients less than 24 hours after the first dose. Elan (NYSE: ELN) and Biogen's (Nasdaq: BIIB) Tysabri gained some market share recently in light of the Gilenya issues.
Shares of Elan are up 6.8 percent Thursday afternoon on heavier-than-normal volume.
The FDA and EMA are investigating heart problems and deaths among Gilenya patients less than 24 hours after the first dose. Elan (NYSE: ELN) and Biogen's (Nasdaq: BIIB) Tysabri gained some market share recently in light of the Gilenya issues.
Shares of Elan are up 6.8 percent Thursday afternoon on heavier-than-normal volume.
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