Elan's shares surged after an FDA panel unanimously recommended that the company's MS drug Tysabri be allowed back on the market. The drug was pulled last year after it was linked to a rare brain disease that caused the death of two patients. The company's shares were suspended pending the announcement and then shot up about 20 percent after trading resumed. The FDA is anticipated to make a final decision on Tysabri's fate by the end of this month.
- read this report [1] from the Boston Globe
Links:
[1] http://www.boston.com/news/local/massachusetts/articles/2006/03/09/elan_shares_surge_over_likely_fda_approval_of_tysabri/