Elan Corporation PLC. (ELN) The Group's principal activity is that of a neuroscience-based biotechnology that is focused on discovering, developing, manufacturing, selling and marketing advanced therapies in neurodegenerative diseases, autoimmune diseases and severe pain.
Elan has been around for many, many years in the biotechnology sector, as you can see from this all history chart:
(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=2455;image)
The stock plummeted from the middle of 2001 and recently fell on the abyss:
(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=2456;image)
The gap down was due to these news:
Biogen, Elan Voluntarily Suspend Tysabri (http://www.marketwatch.com/tools/quotes/newsarticle.asp?dist=¶m=archive&siteid=mktw&guid=%7BA3C3347C%2D8399%2D4B92%2DA91D%2D144261B9ADB0%7D)
But some months later we were getting this:
Elan Predicts Suspended Drug Will Return (http://www.marketwatch.com/tools/quotes/newsarticle.asp?dist=¶m=archive&siteid=mktw&guid=%7B1B21A666%2DE29C%2D4960%2DA204%2D163947FB3ADE%7D)
Elan CEO Confident on Tysabri's Future (http://www.thestreet.com/_mktwrm/stocks/biotech/10225379.html?cm_ven=CBSM&cm_cat=FREE&cm_ite=NA)
And yesterday Biogen released this:
Biogen says Avonex, Tysabri combination met primary endpoint (http://www.marketwatch.com/news/story.asp?siteid=mktw&guid=%7B87E57776%2D89D6%2D4B99%2D84D6%2D4B4C5F86FE25%7D)
By the way, ELN almost everyday has news or press releases and it is one of the most active stocks on the NYSE.
The chart suggests a pretty strong rebound is in the making concerning the stock price. Maybe a good candidate to be on the 3 Stocks on Fire Portfolio.
I've decided to buy ELN at today's open, 6.66% of the 3 SOF Portfolio.
This analysis is part of «Top 5 Stocks for Tuesday», conducted by David Randolph, where he looks for stocks that have a chance of being bought for the 3 Stocks on Fire Portfolio. The portfolio is up 136% since May 2005 (http://www.3stocksonfire.org/closed_trades.php).
www.3stocksonfire.org is a T2T project, which means it is made by traders to traders and investors. We have an already large community of investors changing strategies and stock picks. If you want to join our community and receive our free newsletter, please register (http://www.3stocksonfire.org/trading/index.php?action=register).
Excellent choice, David. I have been trading Elan from $3.52 in April after considerable research into Tysabri and learning of it's value to the MS community. Most believe that it's not a matter of IF Tysabri will return to market but WHEN. Tysabri's fate will be clearer by the end of the summer but news like yesterday's only strengthen it's outlook.
Although it may stay strong, the stock has dipped (sometimes considerably) between press releases in the past, so anyone looking to get into it may wish to wait for the next dip or a little pull back.
Glenn
Nice pick David. I like the stock and the sector. As always with bio-tech its the timing or some news event that guns the stock.
So I approached this play this morning by taking out a long term option. I bought the Jan '06 ELNAA call option with strike price of 5. My entry cost is 3.60
Stated another way I paid a .60 cent premium for all this time from now thru Jan '06 If and when this stock breaks thru $8.00 we will be on our way.
I'm in, David.
I was watching ELN when it dropped a couple of months back - glad I wasn't in then, but glad to be in now!
News today:
Two-Year Sentinel Data Evaluating TYSABRI(R) in Addition to AVONEX(R) Reinforce Efficacy in Multiple Sclerosis
07/18/2005 16:16
Compared to AVONEX Alone, Data Show 24% Reduction in the Risk of Disability Progression and Sustained 56% Reduction in Relapse Rate
Biogen Idec (NASDAQ: BIIB) and Elan Corporation, plc (NYSE: ELN) announced today that SENTINEL, the Phase III TYSABRI(R) (natalizumab) add-on trial with AVONEX(R) (Interferon beta-1a), achieved the two-year primary endpoint of slowing the progression of disability in patients with relapsing forms of multiple sclerosis (MS). The addition of TYSABRI to AVONEX resulted in a 24 percent reduction in the risk of disability progression compared to the effect provided by AVONEX alone. Data from SENTINEL also demonstrated that the addition of TYSABRI to AVONEX led to a 56 percent relative reduction in the rate of clinical relapses compared to that provided by AVONEX alone. The reduction in relapse rate was statistically significant and sustained over the entire two-year study period.
Other efficacy data from SENTINEL at two years, including MRI measures and immunogenicity, were similar to previously reported one-year results.
Common adverse events included headache, nasopharyngitis, limb pain, depression, flu-like symptoms, diarrhea, insomnia, sinusitis, influenza, nausea, muscle pain, anxiety and cough. The rate of infection was 1.6 per patient-year in both AVONEX plus TYSABRI-treated patients and AVONEX plus placebo-treated patients. Serious infections occurred in 2.9 percent of AVONEX plus placebo-treated patients and 2.7 percent of AVONEX plus TYSABRI-treated patients. TYSABRI has been associated with hypersensitivity reactions, including serious systemic reactions which occurred at an incidence of less than 1 percent of patients.
On February 28, 2005, Biogen Idec and Elan announced that they voluntarily suspended TYSABRI from the U.S. market and all ongoing clinical trials based on reports of progressive multifocal leukoencephalopathy (PML), a rare and potentially fatal, demyelinating disease of the central nervous system. The companies have previously reported three confirmed cases of PML, two of which were fatal. Two of the patients with confirmed PML had received AVONEX plus TYSABRI for over two years as part of the SENTINEL trial. Biogen Idec and Elan's comprehensive safety evaluation concerning TYSABRI and any possible link to PML is ongoing. The results of this safety evaluation will be discussed with regulatory agencies to determine the appropriate path forward for TYSABRI.
"These data demonstrate the effect of TYSABRI on disability progression and clinical relapses. We continue to believe in the therapeutic benefit of TYSABRI in MS, a disease with significant unmet medical need," said Burt Adelman, MD, executive vice president, Development, Biogen Idec. "Our extensive safety evaluation, in collaboration with leading experts and regulatory agencies, is on track and we hope to have findings by the end of the summer. As always, our primary commitment is to improving the lives of people with MS."
"TYSABRI continues to show benefit in the treatment of immune-mediated diseases," said Lars Ekman, MD, PhD, executive vice president and president, Research and Development, Elan. "Patient safety is our top priority. We remain strongly committed to defining TYSABRI's benefit-risk profile and determining the appropriate path forward."
SENTINEL is a two-year, randomized, multi-center, placebo-controlled, double-blind study of 1,171 AVONEX-treated patients in 123 clinical trial sites worldwide. In the trial, AVONEX-treated patients who continued to experience disease activity were randomized to add TYSABRI (n=589) or placebo (n=582) to their standard regimen.
The companies anticipate that two-year data from SENTINEL will be presented at the 21st Congress of the European Committee for Treatment and Research in Multiple Sclerosis (ECTRIMS) in Thessaloniki, Greece, which begins September 28, 2005.
About TYSABRI
Biogen Idec and Elan are collaborating equally on the development of TYSABRI in MS, Crohn's disease, and rheumatoid arthritis. On February 28, 2005, Biogen Idec and Elan announced that they voluntarily suspended TYSABRI from the U.S. market and all ongoing clinical trials. Worldwide regulatory agencies are being kept informed of developments related to TYSABRI.
Information about TYSABRI, including the voluntary suspension of marketing and US prescribing information, is available at 1-800-456-2255 and www.TYSABRI.com.
About Multiple Sclerosis
MS is a chronic disease of the central nervous system that affects approximately 400,000 people in North America and more than one million people worldwide. It is a disease that affects more women than men, with onset typically occurring between 20 and 40 years of age. Symptoms of MS may include vision problems, loss of balance, numbness, difficulty walking and paralysis.
About Biogen Idec
Biogen Idec creates new standards of care in oncology, neurology and immunology. As a global leader in the development, manufacturing, and commercialization of novel therapies, Biogen Idec transforms scientific discoveries into advances in human healthcare. For product labeling, press releases and additional information about the company, please visit http://www.biogenidec.com.
About Elan
Elan Corporation, plc is a neuroscience-based biotechnology company. We are committed to making a difference in the lives of patients and their families by dedicating ourselves to bringing innovations in science to fill significant unmet medical needs that continue to exist around the world. Elan shares trade on the New York, London and Dublin Stock Exchanges. For additional information about the company, please visit http://www.elan.com.
I'm hoping that ELN will move back up.
It seems that Tysabri is a drug that will benefit a lot of people, who doesn't really have much else to choose from.
Good pick.
Thank you.
Cheers!
David,
My best friend has MS, and we have a foundation that raises money for the MS Society. I am no expert, and have no TA to add, but I thought I might add what I know for all to consider.
Elan and Biogen are partners. Biogen was first to market with Avonex, and Elan partnered with the giant to gain market share quickly. Biogen advocates the use of both. Imagine that. There have been multiple deaths of people in their studies due to PML. The debate rages on as to cause and effect, but for sure if it comes back it will have a warning label, assuming nobody else dies from PML this week, which for sure is a possibility. When people in their studies die, it gets hit pretty hard. Even if it isn't fair, the market does not wait to listen to the facts, it just makes a judgement that "this cannot be good".
Having said that, Tysabri is the Babe Ruth of MS drugs. It is impossible to ignore how much better the drug is than its competitors according to studies, other than when it kills you. It can also not be understated how few cases of PML on a percentage basis have actually occured, not to mention contributing factors other than the fact that those patients were taking Tysabri. All that needs to be known is that you will probably talk to very few victims who suffer constant severe symtoms that will not salute the warning and move forward, such are the results the drug seems to produce.
The chart won't tell you if someone is going to die from PML tomorrow, but it will tell you there are a bunch of people who think it won't happen. To me, this is a gamble on the label. Will it read, this has a 1% chance of killing you, or a 25% chance of killling you. This is of course an exaggeration, but the severity of the warning will have everything to due with the future success of Tysabri and Elan. Dr.s won't be too anxious to prescribe a treatment with an intense warning. Their premiums are high enough as they are.
Thanks a lot for your thoughts, they complement what I'm going to leave you, which is just the chart (I'm sorry but I run out of time before the opening bell and I still have to lunch - anyway, what's to see at the open, I'm not doing any buying or selling today anyway ::))
Ok, I got my technical setup and trading plan on ELN, I hope the ascending triangle breaks to the upside.
Doubled my position on pull back.
How badly is this going to affect ELN?
I do have an opinion on these kinds of actions, but I'll keep them to myself for right now :(
Parker & Waichman, LLP Files Suit Against Biogen Idec, Inc. and Elan Corp. on Behalf of Family of Tysabri PML Victim
07/21/2005 09:43
NEW YORK, July 21, 2005 (PRIMEZONE) -- Parker & Waichman, LLP (www.yourlawyer.com) announces that it has filed a claim on behalf of the family of Mrs. Anita Smith against Biogen Idec, Inc. (Nasdaq: BIIB) and Elan Corp. (NYSE: ELN), the manufacturers of Tysabri (Natalizumab). Mrs. Smith died of Progressive Multifocal Leukoencephalopathy, or PML, a fatal disorder of the nervous system that has been linked to monotherapy with Tysabri and Tysabri in conjunction with Avonex (Interferon Beta-1a), another Biogen pharmaceutical. Tysabri, a powerful immunosuppressant, received fast track FDA approval in November 2004 for the treatment of Multiple Sclerosis (MS). Tysabri was voluntarily withdrawn from the market by its manufacturers on February 28, 2005, after two cases of PML were diagnosed. The suit was filed in Massachusetts Middlesex Superior Court on July 20, 2005.
According to the suit, Mrs. Smith's tragic death on February 24, 2005 was one of the two PML cases which precipitated Tysabri's withdrawal from the market. In April 2002, Mrs. Smith was enrolled in the Tysabri clinical trial studying the use of Tysabri in combination with Avonex, another Multiple Sclerosis drug manufactured by Biogen. The suit alleges that the combined administration of Tysabri and Avonex can increase the average concentration level of Tysabri by 86 percent over the levels of Tysabri in monotherapy. The suit also alleges that the combined use of these drugs increases Tysabri's half life, which reduces the ability of the patient to clear Tysabri from his/her system. These high levels of Tysabri retained in the body are associated with the development of PML.
The suit notes that in the FDA's review of Tysabri's Biologic License Application, which included data on the combination therapy of Tysabri and Avonex, the agency found that after the sixth dose, the rate of clearance of Tysabri decreased by 34 percent, and the half life increased by 70 percent as compared to the first dose. The data also showed that the mean maximum saturation of Tysabri was high throughout the duration of the study. The observations led the FDA to state that "Avonex alters the pharmacokinetics of natalizumab."
"Before Tysabri was approved, its manufacturers were aware that the drug's use, in combination therapy with Avonex, was dangerous," commented Jerrold S. Parker, founding partner of Parker & Waichman, LLP. "This blatant disregard for patient safety caused tremendous suffering for Mrs. Smith and her family. It certainly appears that combination therapy was proposed by Biogen in an effort to maintain the relevance of Avonex in the marketplace following Tysabri's introduction."
Parker & Waichman, LLP is a leading products liability and personal injury law firm that represents plaintiffs nationwide, with offices in New York and New Jersey. Parker & Waichman, LLP has assisted thousands of clients in receiving fair compensation for injuries resulting from defective medications and medical devices. For more information on Parker & Waichman, LLP please visit: (http://www.yourlawyer.com) or call 1-800-LAW-INFO (1-800-529-4636).
I'm a newbie when it comes to TA, but I've been following ELN for years. Look for a big earnings surprise next week -- with all the attention on Tysabri, people consistently underestimate the value of the company as a drug delivery/nanotechnology play. Also, ELN and Biogen have said they'll complete safety review of Tysabri by end of summer, and CEO has never wavered from statement that the drug will be back on the market by Q3. Next few weeks and months should bring a huge stream of good news to go with the technicals you guys are seeing.
Sapphocles
P.S. Cumuliina, the lawsuit PR is nothing to worry about -- just a final shakeout before earnings IMO.
So the earning is next week. hmmmm.... I'll look for exit [after being burned several time at ERs :( ]
sapphocles ... You said:
"P.S. Cumuliina, the lawsuit PR is nothing to worry about -- just a final shakeout before earnings IMO."
These kinds of lawsuits seems to be an American specialty...I remember one (Texas?) where a women won a lawsuit because she lost her psychic powers...after a hysterectomi! ::)
I hope that these "ambulance-chasers" are on the decline.
I don't know if the cited case will have any affect, but I hope not.
Lots of patients are hoping for Tysabri...
Pardon my bad english, I hope you understand what I want to say.
I was reading your posts on this thread again, very valuable information here.
As a speculator I need to have simple rules and trading plans to follow. I really love reading the news and knowing more about the companies I trade, but in the end discipline reigns supreme and discipline in my strategy comes from having and following a technical trading plan.
My trading plan on ELN is to hold the stock as this ascending triangle pattern evolves. If the stock closes below the ascending trendline I have to take a loss and move on. If the pattern resumes itself the technical target of the breakout will be something around $11.8. So, expected reward is 51% and expected risk is about 8%. If my win/loss ratio is around 50% I'll be a big winner over the long run.
All about probabilities ...
Have a nice trading day, all 15 holdings of the 3 Stocks on Fire Portfolio have seen their analysis updated.
The trading plan is set:
QuoteMy trading plan on ELN is to hold the stock as this ascending triangle pattern evolves. If the stock closes below the ascending trendline I have to take a loss and move on. If the pattern resumes itself the technical target of the breakout will be something around $11.8. So, expected reward is 51% and expected risk is about 8%. If my win/loss ratio is around 50% I'll be a big winner over the long run.
Now the market has the word on the outcome.
MAP Pharmaceuticals Announces Expanded Development Agreement with Elan Drug Technologies
Wednesday July 27, 7:30 am ET
Proprietary Elan NanoCrystal(R) Technology to Be Applied to MAP's Novel Asthma Therapeutics
MOUNTAIN VIEW, Calif., July 27 /PRNewswire-FirstCall/ -- MAP Pharmaceuticals, Inc. announced today that MAP and Elan Corporation, plc (NYSE: ELN - News) have agreed to amend their previous agreement, signed in 2004, to seek to apply Elan's proprietary NanoCrystal® technology to defined inhalation therapies. MAP has been collaborating with Elan to develop a nebulized form of budesonide for the treatment of asthma. The agreement provides additional rights to MAP for the use of NanoCrystal technology for the treatment of multiple respiratory diseases, including asthma.
This agreement covers nebulized delivery of budesonide and combinations of budesonide with beta agonists. Budesonide is an anti-inflammatory corticosteroid indicated for the maintenance treatment of asthma as well as prophylactic therapy for this condition. In all delivery forms, including nebulized delivery, budesonide sales exceeded US$1bn worldwide in 2004. Asthma affects approximately 17 million Americans, 5 million of whom are children. The nebulized portion of the asthma market is the fastest growing segment, largely due to the increasingly high diagnosis rates for asthma in the pediatric population.
Timothy Nelson, CEO of MAP Pharmaceuticals said, "We are pleased to expand our collaboration with Elan Drug Technologies. As an emerging specialty pharmaceutical company focused on becoming a leader in the inhaled drug delivery and respiratory disease sector, these expanded rights allow us to more fully serve our physician and patient customers in the treatment of asthma and other respiratory diseases. The growth of nebulized steroids over the past few years has demonstrated a need among physicians and patients for this type of therapy for the treatment of asthma. We believe the potential to deliver nebulized budesonide to the patient faster and more efficiently will serve MAP and our customers well in the years to come."
The NanoCrystal technology to be used in the development of the new formulation of budesonide is a proprietary Elan innovation for poorly water soluble compounds. NanoCrystal technology is designed to enhance the clinical performance of poorly water-soluble drugs by transforming them into nanometer- sized particles. It is anticipated that the budesonide formulation utilizing this technology may result in a product that will have a superior pharmaceutical delivery and clinical profile when administered via nebulizer.
Paul Breen, Executive Vice President, Elan Drug Technologies said, "We are very pleased to expand this development program with MAP Pharmaceuticals. This program, which will involve the application of the technology into a nebulized form, highlights the flexibility of the technology. We look forward to working closely with MAP in applying our technology to new dosage forms in the inhalation area."
Thanks for posting the news la-onda, you're saving me some work, let me applaud you :)
Considering ELN, the plan is made, now trade the plan.
please read the link carefully, too much infos for posting everything here....
http://www.knobias.com/individual/public/news.htm?eid=3.1.7b9a4a714abf7ee81035b8f32eb0fc86f2a43abb46bfec3e64190d277ada8d92
Elan Reports Second Quarter 2005 Financial Results
Thursday , July 28, 2005 02:30 ET
DUBLIN, Ireland, Jul 28, 2005 (BUSINESS WIRE) --Elan Corporation, plc today announced its second quarter 2005 financial results.
Commenting on Elan's business, Kelly Martin, Elan's president and chief executive officer, said, "We remain focused on executing our plans and realizing our goals of delivering benefits to all of our constituencies including patients, physicians and shareholders. This includes working with all regulatory agencies to determine the regulatory path forward for Tysabri, advancing our research and development pipeline, and in particular, our progress in Alzheimer's. We are advancing on multiple fronts, committed to pursuing a disciplined approach to managing costs and realizing revenue in our business. We will continue to balance the challenges of the short term against the significant growth and value creation opportunities for the long term."
Commenting on Elan's second quarter financial results, Shane Cooke, executive vice president and chief financial officer, said, "The loss for the quarter at $142.6m increased by 21% over 2004 principally because of the costs associated with Tysabri, a charge associated with retiring debt early and the disposal of products during 2004, compensated for by the strong growth in the rest of the business and reduced investment losses. The core business, excluding Tysabri, performed strongly with product revenues growing by 47% over last year." Mr Cooke added, "We are cautiously optimistic that with continued strong revenue growth and careful and disciplined cost management, this business, excluding Tysabri, will get to our target of break-even on an EBITDA basis, by the end of 2005. While we await the outcome of the ongoing Tysabri safety evaluation, we continue to prudently invest in Tysabri and remain capable and committed to re-introducing it as a therapeutic option for patients should it be appropriate. We also made progress with our capital structure during the quarter, retiring over $240m in 2008 debt while retaining over $1.15bn in cash.''
The analysis below is based on the revenues and costs from continuing operations presented in accordance with U.S. GAAP.
Net Loss and Adjusted EBITDA
The net loss for the second quarter of 2005 amounted to $142.6 million, an increase of 21% over the $117.6 million reported in the same quarter of 2004, principally because of the costs associated with Tysabri(TM), (see Appendix II for an analysis of the results broken out between Tysabri and rest of business), a charge associated with retiring debt early and the disposal of products during 2004, compensated for by the strong growth in the rest of the business and reduced investment losses.
Negative Adjusted EBITDA was $58.7 million in the second quarter of 2005, compared to $45.7 million in the second quarter of 2004, and included negative Adjusted EBITDA of $38.2 million related to Tysabri. Adjusted EBITDA for the rest of the business, excluding costs related to Tysabri, is targeted to get to breakeven by the end of 2005 and was negative $20.5 million in the second quarter of 2005 after including $8.0 million in litigation settlement costs. A reconciliation of negative Adjusted EBITDA to net loss from continuing operations, is presented in the table titled "Unaudited Non-GAAP Financial Information - EBITDA" included on page 3.
As previously announced on February 28, 2005, Elan and Biogen Idec, Inc. (Biogen Idec) voluntarily suspended Tysabri from the U.S. market and all ongoing clinical trials based on reports of progressive multifocal leukoencephalopathy (PML), a rare and potentially fatal, demyelinating disease of the central nervous system. Elan and Biogen Idec's comprehensive safety evaluation concerning Tysabri is ongoing. The results of this safety evaluation, which we expect to complete by the end of the summer, will then be discussed with regulatory agencies to determine the appropriate risk benefit profile and the path forward for Tysabri.
Revenue
Total revenue increased 9% to $118.6 million in the second quarter of 2005 from $108.4 million in the second quarter of 2004, principally due to an increase of 47% in product revenue from the core business, offset by reduced revenue from divested products and contract revenue. Revenue is analyzed below between product revenue generated from the core business, revenue arising from products that have been divested and contract revenue.
Product Revenue
Total product revenue for the second quarter of 2005 of $111.6 million increased 19% from $93.4 million recorded in the same quarter of 2004 primarily as a result of an increase of 47% in product revenue from the core business, offset by reduced revenue from divested products.
Revenue from marketed products
Revenue from marketed products was $55.2 million in the second quarter of 2005, compared to $35.6 million recorded in the same period of 2004. The increase primarily reflects increased sales of Maxipime and Azactam.
As previously reported, we experienced third party supply shortages with Maxipime during the early part of 2005. As a result of inventory shortages, Maxipime prescription volume demand for April and May of 2005 decreased by 3%, compared to the same period in 2004. However, prescription volume demand has increased by 24% for the first five months ended May 31, 2005, compared to the same period in 2004. Revenue for the second quarter of 2005 increased from $26.5 million in the second quarter of 2004 to $39.9 million, or 51%, which resulted from a combination of supply shortages in the second quarter of 2004, increased demand for the first five months ended May 31, 2005 and re-stocking of wholesaler inventory following the supply shortages in the first quarter of 2005. We will continue to closely monitor the supply level for Maxipime.
Azactam prescription volume demand for April and May of 2005 increased by 14%, compared to the same period of 2004, while revenue for the quarter increased from $9.1 million to $14.8 million, or 63%. Changing wholesaler inventory levels primarily explains the difference between Azactam prescription growth rate and revenue growth in the second quarter of 2005. Azactam loses patent exclusivity in October 2005 and we anticipate generic competition will have an impact on sales of Azactam from the end of the year.
Prialt, a new treatment for severe chronic pain, was approved in the U.S. in December 2004 and launched in the U.S. in the first quarter of 2005. Revenue from Prialt for the second quarter of 2005 was $1.8 million, compared to $1.0 million in the first quarter of 2005.
Gross Profit
The gross profit margin on product revenue was 64% in the second quarter of 2005, compared to 57% in the same period of 2004. The increase was due principally to the change in the mix of sales and cost management.
Thanks for posting the earnings report la-onda :)
I believe the right approach to ELN's results should be: anything positive is good for the stock. If you see something negative (and you'll probably see many negatives, specially on year over year comparisons), you must remember where the stock was trading at the same time last year.
There are two big positives:
1) «Total revenue increased 9% to $118.6 million in the second quarter of 2005 from $108.4 million in the second quarter of 2004».
2) «The gross profit margin on product revenue was 64% in the second quarter of 2005, compared to 57% in the same period of 2004.»
I don't know how the market will react to the results but I know what I will do, whatever the circumstances. And that is to follow my pre-set trading plan, that says:
1) Hold the stock as long as it closes above the ascending trendline which today will stand at $7.41.
2) Take profits at the technical target of an hypothetic breakout, at $11.8.
ELN came down after the earnings release on profit taking yesterday, but the low of the day was exactly the ascending trendline support I've been talking about, at $7.43 yesterday.
For today the ascending trenline is coming at $7.47, if ELN is set to close below this line I will be forced, by the discipline of following a trading plan, to take a small loss ...
I see the stock is trading at $7.36 now, but I don't care about intraday indications, only the close will tell if the trendline was really broken or not. A lot of money is left on Wall Street from precipitation on trading decisions.
fyi:
Market Scan
Elan Still Faces Considerable Uncertainty On Tysabri
07.29.05, 12:42 PM ET
Morgan Stanley reiterated an "underweight" rating on Elan (nyse: ELN - news - people ), saying considerable uncertainty still exists around the future of Tysabri, the company's multiple sclerosis treatment.
"We still believe there is significant risk that Tysabri never returns to the market," Morgan Stanley said. The research firm said Elan and partner Biogen Idec (nasdaq: BIIB - news - people ) have to conduct long-term studies to get the product back on the market, and that if the product does return, safety concerns may minimize its impact on earnings.
Without Tysabri, the next catalyst for Elan would be positive news from the Alzheimer's Disease programs, "which still remain early stage," according to Morgan Stanley.
For the second quarter, Elan reported an operating loss per share of 35 cents, which was narrower by than Morgan Stanley's estimate by 3 cents. Revenues for the quarter grew 47% year-over-year as management focused more on its base business to drive growth.
???
Morgan Stanley says nothing new on that downgrade, nothing the market didn't know, that's why the stock is down from $27 in less than 6 months.
Technically ELN needs to rise 0.5% today for me to keep holding the stock ... that's the «problem» (or virtue?) of a technical trading plan based on an uptrend, the stock must keep rising for one to continue holding. I believe these are sound trading principles.
Spectacular reaction from ELN to the support line and the Morgan Stanley downgrade, with a 5.6% advance day. The upper limit of the ascending triangle is in sight, at $8.42. If we break that, the technical target of that breakout would be $11.8.
Support line today will be at $7.58.
david, if you don't mind, can you tell me which company's chart do you use?
i use stockcharts.com. between yours and mine, i found a little difference for support
line when i put the lines for ascending triangle. please help me which charts is better to use.
stockcharts.com, bigcharts.com, yours, all lilttle different,
b. regards,
Quote from: swinstar on August 02, 2005, 07:14:07 PM
david, if you don't mind, can you tell me which company's chart do you use?
i use stockcharts.com. between yours and mine, i found a little difference for support
line when i put the lines for ascending triangle. please help me which charts is better to use.
stockcharts.com, bigcharts.com, yours, all Little different,
b. regards,
Hello swinstar, I use the Metastock software, and no website can beat its charts and possibilities. You have explorers, filters, system testers, you name it. It's an amazing software that I own since 1996 (of course it had updates) and my love for it grows everyday.
But those differences between the lines probably are due to the scale used on the charts. For instance, stockscharts.com always uses the semi-log scale, and my chart has a normal scale. If the difference is very little it is probably because we draw the line just a bit different, but that's not important, the market is not mathematics, so one should see a clear break on close to take conclusions.
For today my ascending support for
ELN stands at $7.60 and the horizontal resistance level is at $8.42.
thanks for your answer! :D
As a large investor in Elan, I thought I would highlight for you a message board that I have found the best Elan information time and time again. It is called the STock Arena and it is a board that is focused on quality. I believe though that chart analysis would be a great addition to the board! Life Time Membership is just 1 dollar and the site gives away cash prizes over 20,000 a year. It is a great 1 dollar spent. Check it out.
http://www.stockarena.com/?r=529
Thanks for the info rk4283, we don't mind sharing info about other boards and websites, since we believe ours is, or will be, the best ;D
We don't have many features, but we make the game simple and make money consistently, and most important, we show how we do it.
Considering ELAN, I don't want to know more about it, I believe the market always knows better, and my mind must be always set to follow a trading plan.
The trading plan is to hold ELAN as long as it closes above the ascending support line which today will stand at $7.65. My hope is the stock breaks the ascending triangle on the upside (stocks usually do this) and that would give me a price target of more than $11.
Just keep the plan on ELN, support for today will be at $7.70, resistance at $8.42.
ELN closed a tick below support, but after hours it was about 1% below the ascending trendline. It looks like the general market weakness is getting to most stocks (off course ::)).
I'll take a 1 or 2% loss on ELN at Monday's open.
My reading on ELN is: it formed a double top nd is going down to $6.25 level. It fundamental does not support it as an $8 stock short term. Unless its drug has been proved safe, don't see it has much up potential.
Let us look its development.
I may be wrong but I will not gamble on it.
Well, I sold ELN at the open for just a 1 cent loss per share, cool :). Bought at $7.8, sold @$7.79 (you can see all these transactions at the 3 Stocks on Fire Portfolio homepage (http://www.3stocksonfire.org/3stocksonfire.php).
Will look for stocks with better technical and fundamental setups.
ELN is up 20% in Europe today ... so much for selling without a clear sell signal. Congratulations to those who continue to hold.
Good morning :)
No press release from ELN or BIIB yet but found this AP report. Still holding...
No New Cases in Tysabri Patient Screening
Tuesday August 9, 6:03 am ET
By Shawn Pogatchnik, Associated Press Writer
Elan, Biogen Say Screening of 2,000 Tysabri Patients Find No New Cases of Brain Disease
DUBLIN, Ireland (AP) -- About 2,000 patients who took the suspended MS-fighting drug Tysabri have been screened for a deadly brain disease, but none showed signs of contracting it, the Irish and U.S. companies jointly developing the drug said Tuesday.
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Elan Corp. PLC of Ireland and Biogen Idec Inc. of the United States said they were taking "preliminary steps" to resume clinical trials of Tysabri, which was withdrawn from the U.S. market on Feb. 28 amid fears its use could cause progressive multifocal leukoencephalopathy, or PML, a rare brain disease.
At the time, the companies said two multiple-sclerosis sufferers taking Tysabri had contracted PML, one fatally. They later confirmed a second fatal case of PML in a patient using Tysabri to treat Crohn's disease, a gastrointestinal disorder.
On the Irish Stock Exchange, Elan shares surged more than 25 percent to 7.50 euros ($9.15) within the first half-hour of trading.
Analysts said the announcement signaled growing confidence by both companies that Tysabri would eventually receive renewed, if restricted, approval from the U.S. Food and Drug Administration.
"The announcement is a clear signal to patients and the FDA of the companies' belief that Tysabri can make it back to the market," said Ian Hunter, an analyst for Goodbody Stockbrokers in Dublin.
The companies said they asked more than 2,000 MS sufferers who took Tysabri in clinical trials to be screened for signs of PML. They said 91 percent have complied so far, of whom 99 percent had a neurological exam and 98 percent had an MRI scan.
The screening produced "no new confirmed cases" of PML, the companies said.
"Given the high unmet medical need in MS and the therapeutic benefit we have seen with Tysabri, we are encouraged by these safety findings," said Whaijen Soo, senior vice president of medical research at Biogen Idec in Cambridge, Massachusetts.
"Patient safety remains our top priority," said Lars Ekman, executive vice president and president of research and development at Dublin-based Elan. "We are committed to finalizing the safety evaluation for Crohn's disease and rheumatoid arthritis, which is progressing well and on track to be completed by the end of the summer. We look forward to working with regulatory authorities to determine the path forward for Tysabri."
http://www.elan.com
http://www.biogenidec.com
9.4$ premarket,
congratulations to all longs
Very Nice! I held as well. Let's hope the good news keeps coming and that very large gap gets filled.
I sold yesterday and am wondering if it is wise to get in again today. Comments please!!!
If ELN holds true to past performance, we'll see a little pullback from today's gains. How high it goes today and how much it pulls back is the question. There is still some doubt as to the return (full or partial) of Tysabri. When Ty's fate is known, ELN will truely have the chance to be a stock on fire!
Each news release does give people more hope as to the potential of Ty and ELN but hope is no reason to buy stock!
Quote from: basonista on August 09, 2005, 09:20:08 AM
If ELN holds true to past performance, we'll see a little pullback from today's gains. How high it goes today and how much it pulls back is the question. There is still some doubt as to the return (full or partial) of Tysabri. When Ty's fate is known, ELN will truly have the chance to be a stock on fire!
Each news release does give people more hope as to the potential of Ty and ELN but hope is no reason to buy stock!
basonista was right on this call, I'll applaud. But I disagree with this:
QuoteWhen Ty's fate is known, ELN will truly have the chance to be a stock on fire!
No, that's the news. What we want is to follow
RULE 22: buy the rumor, sell the fact. There's no doubt Biogen and Elan are making all efforts to bring this back to the market (hey, it was the companies who took it out of the market, not the SEC)
The stock is giving me a chance to get back in at reasonable prices, after a big jump on news. I'll be looking to buy ELN around $8.05 today, that's where the ascending trendline stands. Candlesticks show a three black crows pattern, so even if the stock opens higher I do expect some retrace to negative territory and only then the real rise will start.
So, I'll be buying ELN shares today around $8.05 for the 3 Stocks on Fire Portfolio.
Hi David-
Hope you are doing well. You really got caught up in a big way the past 2 days. I know it's early but ELN is up in the pre market to $8.25. If ELN does not drop to the $8.05 area are you still going to jump in? Are you buying at the open as usual are will you wait and see how this develops today? Thx
Buying just at $8.05 or I'll pass (maybe in the middle of the session). Thanks for your post AustinPowers :)
ELN broke out the $8.00 strong resistance level last week on good new and pulled back since.
I bought it today at $8.24.
It may test the low of $7.9 again.
Long term: if their drug could be used again as indicated by the company, the stock could easily go to $20+ or higher.
I have done some research on the drug. As I know that there are many patients who are relying on this drug for their survival. No other drugs are available for those patients. I went to discussion board and many patients posted their message on the board.
But the problem still remains: if some patient's death is directly related to the use of this drug, the doctor will not be able to give it to patients.
So, short term: no big run up unless there are good news on the safety of the drug.
I only put small ammount of moday for the possible run up, purely based on technical not fundamental.
I normally buy stocks based on fundamental analysis.
The stock is giving me a chance to get back in at reasonable prices, after a big jump on news. I'll be looking to buy ELN around $8.05 today, that's where the ascending trendline stands. Candlesticks show a three black crows pattern, so even if the stock opens higher I do expect some retrace to negative territory and only then the real rise will start.
So, I'll be buying ELN shares today around $8.05 for the 3 Stocks on Fire Portfolio.
Quote
David,
Are you still lookng at buying ELN,ECST, and AOB if they come back to your price?
Brad
Not today basanlas, but I'll watch the charts you've mentioned everyday after the close, looking for a good entry and timing.
What are the thoughts on ELN? Should she continue to come down? Do you still like $8.05 or perhaps, as was suggested, in the $7.90 area? Or is it anybody's guess at this point ???
TIA!!!
Hi, David:
We are waiting for your action on ELN.
Technically it is very beautiful. Breaks out very strong at $8.00 and pulls back. It basically stopped moving the last two days.
Hi, Dav:
It seems to me that buying pull back is safer compared with buying break out.
VPHM is a very good example. BCON is another one.
Do not see much downside risk buying ELN at this level.
Another reward/risk analysis for ELN?
Today the market up but bio and drug sector index are down.
ELN holds well up 2 cents.
Ready to go up from here?
I'm making 3 buy backs today. Not much time to explain why, but the rest of the thread gives you the reasoning and the chart below shows why now.
ELN is the buy back stock #2 at today's open !
(This recommendation was made by David Randolph from 3 Stocks on Fire. 3 Stocks on Fire is a Community of stock traders and investors. Our 2851 members change trading ideas and strategies on our message boards everyday. We welcome you as a new member of the 3 Stocks on Fire Community, please take 10 seconds to register (http://www.3stocksonfire.org/trading/index.php?action=register) and receive our free newsletter)
Look at MYOG another bio company, perfect chart, up 67% today.
Looks good, David. Just bought ELN at 8.25. Stop is a close below the trendline, which I show at 8.069 for today, which looks a little lower than yours. It rises at .0506 per day, so 8.1196, or 8.12 for tomorrow (Friday). Risk is a loss of 1.6%, or less, if I don't get stopped out today. Good luck.
Whatever their real and long-term future holds, their near term future is pretty directly linked to the fluctuating fate of Tysaberi. I think that the PPS is based less on fact and more on hope that if no new catastrophic announcement comes out that the worst of the bad news has passed. A lot of people lost a lot when it plunged and are hoping it will rise back toward its previous levels.
Prfsr Hal
There's a lot to say about ELN today:
1) I've changed my trendline a bit to match Melf Elf's trendline. His makes more sense, a technical analyst must addapt the technical information to the new developments. So, for today the ascending trendline stands at $8.12.
2) I agree with Prfsr Hal:
QuoteWhatever their real and long-term future holds, their near term future is pretty directly linked to the fluctuating fate of Tysabri. I think that the PPS is based less on fact and more on hope that if no new catastrophic announcement comes out that the worst of the bad news has passed. A lot of people lost a lot when it plunged and are hoping it will rise back toward its previous levels.
Prfsr Hal
I'm not one of those people, I'm buying the stock around current levels. Bought yesterday at $8.33, so losing just a bit. But you're right, the short term future of ELN is linked to Tysabri, and there's the rumor the drug will come back to the market:
«Elan Corp-ELN Tysabri regulatory approval could happen by end of 2005-Unison.ie
Aug 18, 2005 9:26:00 AM
Following the August 9th announcement that no new cases of the rare fatal brain condition PML had been identified, ELN could receive regulatory approval for its MS drug treatment Tysabri from the Food and Drugs Administration by the end of 2005, predicts Davy healthcare analyst Jack Gorman. If approved, the drug would be back on the market and in pharmacies by June 2006. ELN's marketing partner for Tysabri is BIIB.»
RULE 22 says: Buy the Rumor, Sell the Fact.
Following our leader!!!!
In @ $8.17
Quote from: Melf Elf on August 18, 2005, 01:34:53 PM
Looks good, David. Just bought ELN at 8.25. Stop is a close below the trendline, which I show at 8.069 for today, which looks a little lower than yours. It rises at .0506 per day, so 8.1196, or 8.12 for tomorrow (Friday). Risk is a loss of 1.6%, or less, if I don't get stopped out today. Good luck.
They got me on that one, those devils! >:D >:D >:D
ELN was BID 8.09...ASK 8.10 for about the last fifteen minutes of trading. At 15 seconds before the close, I sold since it was set to close below 8.12. Half the order was filled at 8 seconds before the close, half the order was filled at 12 seconds after the close, both at 3.11, for a loss of 1.7%
However...at 3 seconds
after the close, 2,000 went through at 8.12. At 25 seconds after the close, 12,800 shares went through at 8.12. And, at 43 seconds after the close
202,200 shares went through at 3.12, and the close is 3.12, exactly on the trendline!
That's okay. I've had plenty of trades in which I was glad that I sold when a stock was set to close below a trendline, and I'm glad that the trendline held on a closing basis for the rest of you who are long.
The trendline comes in on Monday, August 22 at 3.1702. Good luck to everyone long ELN!
3.11, 3.12 ??
not 8.11 and 8.12?
Quote from: Melf Elf on August 19, 2005, 04:26:33 PM
Quote from: Melf Elf on August 18, 2005, 01:34:53 PM
Looks good, David. Just bought ELN at 8.25. Stop is a close below the trendline, which I show at 8.069 for today, which looks a little lower than yours. It rises at .0506 per day, so 8.1196, or 8.12 for tomorrow (Friday). Risk is a loss of 1.6%, or less, if I don't get stopped out today. Good luck.
They got me on that one, those devils! >:D >:D >:D
ELN was BID 8.09...ASK 8.10 for about the last fifteen minutes of trading. At 15 seconds before the close, I sold since it was set to close below 8.12. Half the order was filled at 8 seconds before the close, half the order was filled at 12 seconds after the close, both at 3.11, for a loss of 1.7%
However...at 3 seconds after the close, 2,000 went through at 8.12. At 25 seconds after the close, 12,800 shares went through at 8.12. And, at 43 seconds after the close 202,200 shares went through at 3.12, and the close is 3.12, exactly on the trendline!
That's okay. I've had plenty of trades in which I was glad that I sold when a stock was set to close below a trendline, and I'm glad that the trendline held on a closing basis for the rest of you who are long.
The trendline comes in on Monday, August 22 at 3.1702. Good luck to everyone long ELN!
Volume LOW all week....
MKT maker walkdown post news conference....
not to worry... WEEKLY VOLUME on pullback 25M vs 84M previous week... LONG Aug 7.50 and 10 call holders simply smoked.... NYSE mkt maker a real sniper shorting this down all day.
Ce'st la vie... a BUY OPP... Bot ELNIU SEP 7.50 calls at .90 today on 8.04 area pullback.
>:DOPTIONS CROOK ACTIVITY >:D
Every month on the 3rd Friday, options expire and when the trend is basically neutral, volatility is usually very low. Since the brief spurt of volatility last week, the market has seen lower and lower daily ranges. This behavior is part of how the option writers "park the cars" to maximize their "take" of option time premium. Options are a wasting asset and it's no puzzle that blatant manipulation of stock prices every month brings joy to option writers' accounts.
Quote from: la-onda on August 19, 2005, 04:40:01 PM
3.11, 3.12 ??
not 8.11 and 8.12?
Sorry, yes, 8.11 and 8.12.
ELN price decline on Friday may be due to the news that Merck lost big on its case.
Merck stock price lost more than 7% after Jury finds Merck liable for Vioxx deth and awarded a widow $253 million.
VOLUME on Friday EQUALED THURSDAY (BOTH LOW VOLUME DAYS) and the MM Walked the price down to 8.04.
Nuff said... If it is due to VIOXX... we have a selloff not a low volume walfkdown due to expiry...
Weekly volume outrageously LOW on Markdown....
;D We See... Next Week or Sept.... >:D
About the trend:
Looking at the weekly chart, it is slowly by consistently going up since June 27 (8 weeks).
There are 2 down weeks and 6 up weeks. Last week is one of the two down weeks.
The closing prices on the down weeks are both at the support of the uptrend.
For daily chart, it is in ascending trendline and has the break-out possibility.
Hopefully the trend will continue and this week will be an up week.
By the way EYET ws bought at $20 per share (43% premium) Sunday.
Lol Melf Elf, great description of ELN's close. That was too close to call ::)
When this happens I hold for the next trading day, a cut for just 1 or 2 ticks isn't valid, just a slight change in the slope of the trenline and by magic there was no break ;D
Quote from: rpccpa on August 19, 2005, 08:00:22 PM
>:DOPTIONS CROOK ACTIVITY >:D
Every month on the 3rd Friday, options expire and when the trend is basically neutral, volatility is usually very low. Since the brief spurt of volatility last week, the market has seen lower and lower daily ranges. This behavior is part of how the option writers "park the cars" to maximize their "take" of option time premium. Options are a wasting asset and it's no puzzle that blatant manipulation of stock prices every month brings joy to option writers' accounts.
Thanks for your post rpccpa, I believe this is a great explanation for the fall ELN experienced after that big gap up on Tysabri's news. The stock wasn't ready to advance because big manipulators weren't ready. Maybe now that options have expired they will allow the stock to advance, since they can't maintain prices artificially low for long.
The market will show us if your theory is valid. The stock closed exactly at the ascending trendline, so it should rebound from this level today. If it doesn't, if it goes down today, I'll take a small loss and move on to another speculative venture.
Quote from: David Randolph on August 22, 2005, 05:50:07 AM
Lol Melf Elf, great description of ELN's close. That was too close to call ::)
When this happens I hold for the next trading day, a cut for just 1 or 2 ticks isn't valid, just a slight change in the slope of the trenline and by magic there was no break ;D
GSS also has been "too close to call" at the closes on Thursday and Friday, so I held that one. My decision to sell ELN on Friday was predicated on the fact that it was "at the abyss" as you so aptly put it, threatening to break that trendline, and it's a gapper. I didn't want to risk facing a gap down opening this morning if that trendline broke on Friday.
Those are always judgment calls. Sometimes they work out. Sometimes they don't. I hope this one works out for all of you who are still long it. Good luck!
How does one go about finding the earnings date on a company? TIA!!!
Quote from: Tirebldr on August 22, 2005, 08:07:12 PM
How does one go about finding the earnings date on a company? TIA!!!
http://biz.yahoo.com/research/earncal/today.html
The options theory of rpccpa doesn't look to be right on ELN, since the stock went down yesterday (I welcome it though :)).
I know it's boring to take another small loss on ELN, but that's what I'm going to do today.
The stock closed below the ascending trendline (which already had some downward adjusts, and when one starts lowering the lines to justify not taking a loss something's wrong with that trade).
I'm selling ELN at today's open.
Even I don't like to sell it, but I still sold it at $8.32, patiently waiting for its bouncing back from double bottom.
From weekly chart, it is still in uptrend (from $6.5 eight weeks ago). But the up is very slow.
From 15 minutes chart, it is clear that $8.05 is its recent bottom and it holds well.
May be, what we need is some momentum stocks - big movers.
Well I can add to this. I have been in since 5.75 and it has been a wild ride but ELN has a great up side, they are more than a one trick pony and has a track record of fighting back from controversy. So I will stay in for the long haul. Don't get me wrong I have not fallen in love with this stock and would drop it in a minute if it starts to fall apart.
Now what I said is true. I shouldn't have sold it. One of my mistakes.
Weekly chart is clearly showing the uptrend. The last 9 weeks (including this week), it is up slowly but consistently.
It is good to follow rules, never violate it. David uses ascending trendline to trade this stock. So when he sees the violation, he sold it.
But for me, I used different rules to have bought this stock:
the ascending trendline as well as weekly uptrend.
I should also follow my rule on this stock. But I did not. I changed my rule.
Of course, not much money is involved in this trade,
and I also made small profit on this trade (2.5k shares for $100 gain).
The problem for me is not consistent.
A lot to learn.
My trading style is buying at pull-back for uptrend/break-out stocks.
David used both strategies:
sometime buying on pull-back like the second buy on VPHM and
sometime buying on break-out like BTUI he bought yesterday.
Need to learn more as to when to follow break-out and when to buy pull-back
amre.ob is a perfect example of buying on break-out (gained 1200% in 3 days)!!!
Good webe site and that is why it crashed yesterday.
I wish I would have found this thread earlier.
Sorry you sold. Been there many times.
I picked up more today @ $8.60 making my cost basis $8.44
Keep an eye on this one tomorrow morning. The volume surged in the last hour and it closed just about at the high of the day. I notice this stock seems to tip its hand in the last hour of the day when there is pending news. The same thing happened a few weeks ago when it gapped up over $1 on the T trials news.
>:D Right on schedule.... taking into account the summer doldrums... >:D
VOLUME today of 10,172,300 will allow us to test the $9.49 high of 8/9/2005... looking for 15M volume or better to go higher...
Quote from: rpccpa on August 19, 2005, 08:00:22 PM
>:DOPTIONS CROOK ACTIVITY >:D
Every month on the 3rd Friday, options expire and when the trend is basically neutral, volatility is usually very low. Since the brief spurt of volatility last week, the market has seen lower and lower daily ranges. This behavior is part of how the option writers "park the cars" to maximize their "take" of option time premium. Options are a wasting asset and it's no puzzle that blatant manipulation of stock prices every month brings joy to option writers' accounts.
Yes you are right, having watched this stock for 8 months I have noticed that too. ELN is a hard stock to watch on a daily biases but it has a good upward trend overall.
Just the ranting of someone who has done good just on instinct and wants to learn the analyst side of how to trade. ;D ;D
Spin masters at it again. I guess the little run up yesterday made Morgan Stanley a bit uncomfortble.
NEW YORK (MarketWatch) -- Biogen Idec and Elan Corp. shares fell in premarket trade Friday, after Morgan Stanley said a review of the FDA's Adverse Event Reporting System reveals safety signals for the companies' jointly-developed Tysabri drug that extend beyond the three known cases of the wasting disease PML. "These data do not change our conclusion that Tysabri has a good chance of returning, but this drug has a number of warts and initial commercial impact may be limited," said analyst Steven Harr. Biogen was last quoted down 2% at $40.11 on Instinet, while Elan was off 3.4% at $8.45.
Yea it has been a few months of that type of manipulation from the big boys. All I care about that in the end goes up.
The only thing that really annoyed me was the fact the Scottrade snubbed my order at $8.30 this morning.
I was unavailable to watch it this morning but I checked the price from a friends house and was excited figuring I'd bought it...BAH! I check my account and there's my order, still sitting there... Snubbed again. Oh, how I wanted to add more!!!
Oh well...we'll still make money...I just won't make as much now! ;D
ELN is in uptrend and this can be seen clearly from its weekly chart:
(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=4451;image)
Even bad comments from analyst last Friday did not bring it down a lot.
Any comments?
Any thoughts on the recent news? I tried to highlight it as best I could.
laterz...Jody
http://us.rd.yahoo.com/finance/external/wsj/SIG=11vmjrond/*http://online.wsj.com/article/0,,SB112525728800624916,00.html?mod=yahoo_hs&ru=yahoo
Tysabri May Be Linked
To Added Side Effects
By SYLVIA PAGAN WESTPHAL
Staff Reporter of THE WALL STREET JOURNAL
August 28, 2005 3:51 p.m.
The multiple-sclerosis drug Tysabri, which was withdrawn from the market this year, could be linked to new serious side effects, according to an analyst's report.
Through a Freedom of Information request, Steven Harr, of Morgan Stanley, obtained a list of adverse-events reports made to the U.S. Food and Drug Administration related to Tysabri.
Following an analysis of the data, he issued a note Thursday describing adverse-event reports in which a number of Tysabri patients died of rare infections. "We're not trying to put a death knell on Tysabri, but there are signals in there that something's going on. It's important for patients and investors to know," Mr. Harr said in an interview.
A spokesman for Biogen Idec Inc., of Cambridge, Mass., which manufactures the drug along with Elan Corp., of Dublin, dismissed Mr. Harr's report. The spokesman said Biogen and Elan had performed a detailed safety analysis of the drug and found no statistically significant differences between serious adverse events with patients given Tysabri and patients given a placebo in several clinical trials.
"We have an enormous amount of information in our hands," the spokesman said. "The [adverse events] database is a limited tool." Biogen and Elan said this month they hope to get the drug back on the market.
Leonore Gelb, an FDA spokeswoman, said the agency declined to comment on the analyst's report.
Tysabri was taken off the market on Feb. 28 after a patient contracted a rare brain infection called progressive multifocal leukoencephalopathy, or PML. Two other cases of PML subsequently have been confirmed by the drug's manufacturers. Out of those three cases, there are two confirmed deaths. It is suspected that the reason patients get PML is because Tysabri suppresses the immune system.
The analyst's report describes seven non-PML deaths in patients taking Tysabri that "appear to be related to immunosupression." One death was owing to pneumocystis pneumonia, an infection that only patients with severely debilitated immune systems get; another was because of herpes encephalitis, a very rare infection of the central nervous system, and four other deaths were possibly caused by "sepsis," an uncontrolled infection that spreads through the body.
The report mentioned that the FDA database contained "numerous" accounts of serious, nonfatal infections that "suggest again that the toll from Tysabri extends beyond PML."
Despite the possible new side effects, Mr. Harr said Tysabri has a good chance of returning to the market. Its efficacy is "so compelling" in multiple sclerosis that doctors are likely to want to prescribe it for their sickest patients even if the risk for immune problems is higher.
At 4 p.m. Friday in composite trading on the Nasdaq Stock Market, Biogen shares edged up 13 cents to $41.05 each.
Same old song. I would listen to teh CEO's not anyone else.
Goldie,
Respectfully disagree on 2 points. First, if you buy because of what the ceo says, it is a recipe for disaster imho. Note enron. There are some straight shooters out there, but generally they are "like a box of chocalates" to quote Mr.Gump.
Second, the fact that PML deaths only occured when in combo with Avonex really doesn't impress the investing community when someone dies from PML. As your sell order does not get filled, you can yell at your screen all day that it is only in combo with Avonex that people have died, yet nobody seems to care.
The drug works, and I pray, believe me I pray they get it figured out, but your stop order might as well not even be there if someone dies, in combo with Avonex or any other drug.
Anyone comfortable with the risk stands to make a killing on the stock, because there is a demand for the drug, I just think there are less risky plays.
JMHO
I know what I saw. I saw blocks of 100,000 and 200,000 on thursday . It has been climbing this wall of worry for months now.
http://finance.yahoo.com/q/hp?s=ELN
Dumped this on the pop Thursday...
>:D Pick it up in 7's on MKT correction off New Orleans disaster and WSJ news which will get joe retail investor dumping the stock. >:D
Interesting, this stock has managed to hold up very well after 2 attempts by spin master to knock it down. A few months ago this would have punished the stock. The timing of these attempts is right at the point where this stock could potentially break out. Are the bulls in control here or what?
<<are the bulls in control or what?>>
YES, we are. ;D
technical breakout in ELN soon!
im seeing a symm triangle on the intraday chart thats tightening up on descending volume.
heres the link.
http://www.thebulltrader.com/eln-technical-breakout/
Just offering my 2-cents-worth. As luck would have it, Biogen Idec (Elan's Tysabri partner) was my largest single holding when the news of PML first broke out. My research at the time had already told me how radically Tysabri changed the quality of life for MS patients who were subject to relapse and furtherance of this devastating degenerative disease, so I held through the worst of it -- including the announcements of a second, and then a third, PML case. I eventually sold all of my Biogen on the rumor, initiated by ELN's CEO, that Tysabri's return in the 4th quarter was assured.
Though I chose not to hold through all of the uncertainty, I remain convinced that Tysabri will return to market, and will be more successful than many financial analysts now believe is possible.
Tysabri is not Vioxx. There is no alternative medication that offers similar relief to MS relapse. There are similar medications in development, but most of these use some form of mechanism that is similar to Tysabri.
MS is a disorder of the anti-immune system, wherein the body's defenses attack a protein sheath that coats the nervous system; this sheath is necessary for proper function.
Tysabri, and other new approaches to MS, work via moderation of the anti-immune system.
Most other medications that work in this way moderate the entire anti-immune system, whereas Tysabri is more "targeted" -- it blocks the immune system's disease-fighting T cells from migrating to the brain. While this greatly diminishes the likelihood of an MS relapse, it obviously leaves the patient more vulnerable to brain infection, such as PML (Progressive Multifocal Leukoencephalopathy).
PML is caused by a virus called "the JC virus" which is present in some 60 to 80 percent of adults, and is usually acquired around the age of 14; we generally do not sicken when it is acquired because antibodies are quickly generated, which keep it in check, though it remains latent in the kidneys and possibly the nervous system.
PML was an extremely rare disease prior to the AIDS epidemic. It remains extremely rare outside of the AIDS-infected. As the result of AIDS research, recent years have brought considerable progress to the detection and diagnosis of activity by the JC Virus, and its progress toward PML.
There is no treatment for PML; however, past research on PML indicates that removing the environmental factors that cause the activation of the JC virus will often cause PML to go into remission. It could well be that early detection of JC Virus activity, and cessation of Tysabri treatment is all that is needed to prevent further PML cases. Full-blown PNL is usually preceded by the appearance of detectable brain lesions. Since MS also can produce similar lesions, these precursors were not detected by researchers during the trials, and all three reported cases of PML were quite severe before they were detected.
The fact that all three PML cases involved other immuno-suppressant drugs (Avonex in two instances, and multiple regimens in another) muddies the water; much further research will be needed to determine whether or not tysabri on its own can result in PML infection.
My feeling is that the threat of PML can be moderated, or even eliminated, and that it is possible that Tysabri monotherapy will eventually be shown to be much safer than the combination therapies to which these patients were subject.
Even if the PML threat cannot be moderated, some 3,500 patients have been on the drug in the course of trials, resulting in three cases of PML, and one of these three is in recovery.
If Tysabri were just another painkiller, or any other drug with reasonable alternatives available, I would have no hope for it. As things stand, I am very confident that Tysabri will help a great many MS patients live fuller and happier lives, at least until an even better treatment is released.
I have not, as yet, joined David with a long position in ELN. Given my experience with Biogen, you may understand I would like further confirmation of an uptrend.
However, I do strongly feel that those willing to suffer the ups and downs of this unsettled issue will eventually stand in triumph.
Lots of interesting info here:
http://www.thisisms.com/modules.php?name=News&new_topic=56
:D Nice call Ricky. Eln lookin god today!
The best is yet to come. Strong buy.
DJ ) 09/01 01:51AM DJ Biogen Idec To Seek Stronger Warning Label For MS Drug
CAMBRIDGE, Mass. (AP)--Biogen Idec Inc. will ask federal regulators to allow
it to resume sales of a multiple sclerosis drug linked to a brain disease with
additional warning labels, the company's CEO said in an interview.
James Mullen said Wednesday that Biogen Idec will likely recommend that
Tysabri include warnings about three cases of an often-fatal brain disease
that were confirmed after clinical trials of the drug, which was withdrawn
from the market Feb. 28 despite hopes that it would become an important new
tool in treating MS.
Mullen said the revised label that the company will propose to the U.S. Food
and Drug Administration also will warn about risks for patients who have weak
immune systems and therefore could be more susceptible to contracting the
disease, called progressive multifocal leukoencephalopathy, or PML.
However, Mullen said the label language his company will suggest to FDA when
it seeks permission to resume marketing Tysabri will acknowledge that
scientists don't yet understand precisely how the bioengineered drug put the
three patients who contracted PML at risk of contracting the rare disease. Two
of those patients died.
"I think it's important for us to not overstate what we know," Mullen,
Biogen Idec's chief executive and president, said in an interview with The
Associated Press at the company's Cambridge headquarters. "We want to be
concrete about what we know and what we don't know."
Mullen said Biogen Idec and its Irish partner on Tysabri, Elan Corp., plan
to submit findings from their review of the drug's safety to the FDA by the
end of September.
The companies had previously said the report would be submitted sometime in
the fall so the FDA could review whether Tysabri can safely return to the
market. Some industry analysts have said strong warnings on Tysabri's label
could ruin the drug's chances of becoming a commercial success.
Mullen said it is "highly unlikely" the FDA will complete its own review by
year's end, but he said the regulators are "interested in a thorough but
expeditious review of determining whether this can brought back to the market
in the near future or not."
FDA spokeswoman Lenore Gelb declined to comment Wednesday.
Biogen Idec and Elan said Aug. 9 that more than 2,000 patients with multiple
sclerosis who took Tysabri in clinical trials had been screened for PML as
part of the companies' safety review, but no new cases were found.
The companies are close to finishing a similar review of about 1,500 people
who took Tysabri in clinical trials to test its effectiveness in treating
Crohn's disease and rheumatoid arthritis.
After reviewing one year of data from planned two-year trials, federal
regulators in November approved Tysabri for sale to the 350,000 American
sufferers of MS, a debilitating and incurable disease in which the body's
immune system turns rebellious, attacking, inflaming and damaging its own
nerve tissue.
The drug was withdrawn about three months after its approval, causing Biogen
shares to plunge more than 42% the day of the announcement while Elan's stock
fell 70%.
"We hope there is a pathway back to the market," Mullen said. "We think that
unless we see some new surprises, that the risk-benefit profile for this
product certainly warrants it being used for MS.
"We've got probably hundreds of letters from patients saying, 'Tysabri
changed my life. I've got no other options. I'll sign whatever waiver I need
to get access to this product."'
Thanks Goldie.
cup and handle formation in the making. handle is almost done forming on descending volume.
http://www.thebulltrader.com/2005/09/06/eln-cup-and-handle/
should be a good day for ELN:
Elan and Biogen Idec Announce TYSABRI(R) Safety Evaluation Findings in Crohn's Disease and Rheumatoid Arthritis Patients
Monday October 17, 2:30 am ET
TYSABRI Safety Evaluation Complete
No New Confirmed Cases of PML
DUBLIN, Ireland & CAMBRIDGE, Mass.--(BUSINESS WIRE)--Oct. 17, 2005--Elan Corporation, plc (NYSE: ELN - News) and Biogen Idec (NASDAQ: BIIB - News) announced today that findings from their safety evaluation of TYSABRI® (natalizumab) in patients with Crohn's disease (CD) and rheumatoid arthritis (RA) resulted in no new confirmed cases of progressive multifocal leukoencephalopathy (PML). The companies have previously reported that findings from their safety evaluation of TYSABRI in patients with multiple sclerosis (MS) resulted in no new confirmed cases of PML. Three confirmed cases of PML were previously reported, two of which were fatal. The TYSABRI safety evaluation is now complete.
On September 26, 2005 the companies announced that they submitted a supplemental Biologics License Application for TYSABRI to the U.S. Food and Drug Administration (FDA) for the treatment of MS. The companies also recently submitted a similar data package to the European Medicines Agency.
More than 1,500 CD and RA patients from clinical trials were eligible for the safety evaluation. A total of 88% of these patients participated in the safety evaluation. In total, 98% of the patients participating in the evaluation had a neurological exam by a consultant neurologist and an MRI exam.
On February 28, 2005, Biogen Idec and Elan announced that they voluntarily suspended TYSABRI from the U.S. market and all ongoing clinical trials based on reports of PML, a rare and potentially fatal, demyelinating disease of the central nervous system.
I thought so too. Bought in the morning. Closed where I bought it. Still, if these new findings bring Tysabari back to the market, I think the stock has bouyancy and will rise back into the 20's.
Prfsr Hal
Loaded up AH @ 10.60, should be interesting. Buyside out numbers sell 4 to 1. We got as high as 11.41, last AH trade @ 1.11.
AP
Tysabri Drug Gets Priority Review at FDA
Thursday November 17, 6:13 pm ET
Regulators Grant Biogen Idec, Elan Priority Review Status to Resubmit Tysabri Back to Market
NEW YORK (AP) -- Biogen Idec Inc. and partner Elan Corp. said Thursday that regulators granted priority review status to their application to bring the withdrawn Tysabri multiple sclerosis drug back to the market.
The Food and Drug Administration first approved Tysabri last November, but the companies pulled the drug from the market in February after it was linked to a fatal brain disease. The priority review label means the FDA plans to rule on the medicine in six months instead of the standard 10.
The agency also said that the application, which Biogen and Elan submitted in late September, was complete and could proceed into the formal review process.
Shares of Cambridge, Mass.-based Biogen rose 29 cents to $45.10 in recent after-hours trading, while Ireland's Elan saw its shares jump 43 cents, or 4.2 percent, to $10.73. Shares of Elan, a much smaller company, have been particularly sensitive to Tysabri news.
I really like the way the chart is positioned right now. ELN broke through resistance at $10 and is consolidating above its new support line, and there's nothing but free air up to $25.
Bought in at the low-mid 8's. I had a feeling that this would happen. Nearly nearly hit the sell button two days ago. Tomorrow's gonna be fun. Let us selfishly and altruistically hope for no more trouble.
prfsr ahal
Hey Professor, I recognize you from Trudy's group. Unfortunately, other than CRXL, everything else there is a pump and dump. I like 3SoF much better.
News AH...stock gapped up over 11 just as I suspected...
http://biz.yahoo.com/ap/051117/biogen_elan.html?.v=1
This ones going to be on FIRE up to at least $12.25!
Here was the chart I provided for my members.... >:D
In at 10.80 - More fighting at this level than iId like to see, but still believe the surge will move this up.
Wish I'd had time to open this thread earlier in the week.
Quote from: KCScott on November 18, 2005, 11:55:42 AM
In at 10.80 - More fighting at this level than iId like to see, but still believe the surge will move this up.
Wish I'd had time to open this thread earlier in the week.
:D Me too! Got in at 10.89... :D
This will make its significant move only on news, don't you think? If Tysabri turns out to be as good as they believe and as benign, we should be bouyant back to the 20's in half a year.
Prfsr Hal
Lately ELN has been behaving nicely.
There is a lot of speculation on the yahoo-board about Tysabri, fuelled by this interview:
http://business.timesonline.co.uk/article/0,,9068-1910578,00.html
Anyone else holding ELN?
I have been long from 5.75 and as you can asume I am very happy that my gut was right. ;D ;D ;D
ELN just keeps going up... :D
So far (since nov. 20) it is up 21% from my entry of 10.89...
And I think it has a lot more to offer.
While I'm waiting for ELN to start the next nice advance, I borrowed this from the yahoo-board. Would be a pity not to share it with you.
Not all on those boards is trash. ;)
Recommend this Post - This post has 88 recommendations
Vindication: the Stealth Upgrade
by: truthe_sayer
Long-Term Sentiment: Buy 12/17/05 02:23 pm
Msg: 851553 of 851553
This has been a most telling week for Elan. And interspersed with the flash, the tumult, the bombast is yet another example from that den of duplicity, that canyon or corruption, that grotto of greed we know and hate called Wall Street.
The phenomena is the Stealth Upgrade. But it is that in name only for the noble savages, the shrewd iconoclasts, the astute mavens, the important nobodies that populate this message board. How stupid that the shifty, the snarky, the devious types in the investment community think they can fool us?
The Stealth Upgrade constitutes a change in sentiment or recommendation or directive from: SELL to HOLD. It is without a doubt the most telling, most devastating, most compelling upgrade that can be issued. For, it is poorly cloaked message that the analyst senses that a train, a tsunami, a tornado is coming on the upside and it is time to get out of the way. It is a face saving admission that the analysis was wrong. It is a capitulation that the analyst is desperately forced to make to salvage their reputation, their career, their livelihood from an adverse avalanche of favorable facts about to swamp them – even while he or she fervently hopes it escapes notice. It's the ultimate CYA.
And so a few weeks ago this sorry, unseemly and disgusting spectre presented itself from the minions of mendacity as a change in investment rating on Elan from AG Edwards from Sell to Hold.
And this week we encountered an even more clever sleight of hand from Mad Money. For all his chair throwing, spittle laced invective and ADHD mannerisms, Mr. Cramer is not an idiot. He has discovered it is easier to make money in entertainment than in investment. And for weeks upon months he has mindlessly piled on Elan along with all the other nabobs of negativism. Safety in numbers. Bad news sells papers. Bad mouthing builds audiences. Mr. Cramer has literally worn out his "sell, sell, sell" and growl-of-the-bear sound FX buttons when callers inquired of Elan.
But last week something interesting happened. And you had to look past his hyperbolic verbiage to see it. But when the subject of Elan came up this time he pushed the "Ring the Register" sound FX button. Now, taking profits is at least arguably NOT exactly the same as "sell, sell, sell." But perhaps his button aim was amiss.
But this week something even MORE interesting happened. Parse Mr. Cramer's actions (not his marginally understandable words) and you will note he pushed the "Don't buy, don't buy" sound FX button. That is, absolutely without equivocation, a change from "Sell, sell, sell". It was a Stealth Upgrade of monumental proportions. Even entertainer Cramer realizes his specious stock picking reputation is under threat from Elan.
As far as Elan goes it is just another piece of the puzzle falling inexorably, inevitably, irrevocably, irretrievably into place.
The Bearish Ship of Fools is foundering... and the rats are clawing all over each other to leave any way they can – while furiously, desperately, trying not to draw attention to themselves. It's a lemmings' headlong rush into the sea.
The Stealth Upgrade is one of their favorite, hackneyed, smarmy, unimaginative and tired-out tools. Expect more in the coming weeks. Why do they think these will fool any of us?
They won't. Because, for Elan, the third time will truly be the charm.
I bought at 8.39 and more at 11. I sense a return to the mid 20's and beyond.
Prfsr Hal
Glad to see that not all on this site are ignoring ELN. I got lucky and found this one @ 5.75 and am still long. I think we will see $25-30 by mid year, Just a gut feeling nothing to back it up but there is more in ELN's bag now.
Does anyone know of any news causing this movement today?
On the yahoo-board there are rumours about good news regarding the alzheimers-drug, but I haven't been able to find anything.
Not complaining, though!
ELN making a symmetrical triangle...
Looks like we have a breakout of the symmetrical triangle on above average volume. No news that I can find to trigger this. ;D
Wow! Just broke through solid resistance around $16 with continued strong volume! Next strong resistance at recent high of $16.83.
Updated chart. No news yet on Tysabri return. We'll see if this move from Friday can continue.
Hits a new 52 week high on increasing volume. ;D
Another 52 week high on increasing volume. Potential consolidation ahead although MACD has some room to run. :)
Sorry Basonista...I noticed you're posting ELN as well. I've been positing on the Stock trading board. Been in and out of ELN since it tanked over a year ago. It's looking good here with the huge gap to fill up to $25.
;D
Cheers,
kslifka
Ahh, I see that you have been posting on ELN. Sometimes the search doesn't pull up all of the threads.
ELN was what got me into investing in stocks last year. I saw it tank, did a little research and thought it would bounce back eventually and that Tysabri had a good chance of returning to market. If only I had kept those shares I bought at less than $4!
I rushed back to ELN yesterday.
Bought after hours at 13.31
Some strange confusion about fake news etc. really caused a stir.
If you can't stomach the yahoo message boards, then the good posters have all moved to
http://www1.investorvillage.com/smbd.asp?mb=160&pt=m
So have I!!!
Cheers!
...And "something" was going on.
I wonder what kind of movement we will see on ELN today :D
24 July 2006
Biogen Idec and Elan Announce Availability of TYSABRI® for the Treatment of Relapsing Forms of Multiple Sclerosis
CAMBRIDGE, Mass. and DUBLIN, Ireland--(BUSINESS WIRE)--July 24, 2006--Biogen Idec (NASDAQ: BIIB) and Elan Corporation, plc (NYSE: ELN) today announced the commercial availability of TYSABRI® (natalizumab) for the treatment of relapsing forms of multiple sclerosis (MS) in the U.S. As previously announced, the U.S. Food and Drug Administration (FDA) approved the supplemental Biologics License Application (sBLA) for the reintroduction of TYSABRI as a monotherapy treatment for relapsing forms of MS to slow the progression of disability and reduce the frequency of clinical relapses.
The FDA granted approval for reintroduction based on the review of TYSABRI clinical trial data; revised labeling with enhanced safety warnings; and a risk management plan (TOUCH Prescribing Program) designed to inform physicians and patients of the benefits and risks of TYSABRI treatment and minimize potential risk of progressive multifocal leukoencephalopathy (PML). Because of the increased risk of PML, TYSABRI is generally recommended for patients who have had an inadequate response to, or are unable to tolerate, alternate MS therapies.
Under the TOUCH Prescribing Program, only prescribers, infusion centers and pharmacies associated with infusion centers registered in the TOUCH program are able to prescribe, infuse or distribute TYSABRI. Elan has contracted with a single distributor, ICS, a division of AmerisourceBergen Specialty Group, and 12 specialty pharmacies: Caremark, CuraScript, PharmaCare, PrecisionRx Specialty Solutions, Medmark, BioScrip, McKesson Specialty, Option Care, Cigna Tel-Drug Specialty Pharmacy, Aetna Specialty Pharmacy, Prescription Solutions, and Accredo NovaFactor. ICS and the 12 specialty pharmacies have been trained on the TOUCH Prescribing Program and are obligated to follow the requirements of the program in order to purchase and distribute TYSABRI to authorized infusion sites and central pharmacies.
In addition, following the recent approval by the European Commission, the companies have introduced TYSABRI in several countries in Europe.
About TYSABRI
Two-year data from the AFFIRM monotherapy trial showed that treatment with TYSABRI reduced the risk of disability progression by 42% (p<0.001), the primary endpoint of the study, and led to a 67% reduction (p<0.001) in the annualized relapse rate compared to placebo. TYSABRI treatment also resulted in sustained and statistically significant reductions in brain lesion activity as measured by MRI. The two-year data from the SENTINEL add-on trial also demonstrated that treatment with TYSABRI in addition to AVONEX(R) (Interferon beta-1a) had a significant effect on disability progression, relapse rate and brain MRI disease activity compared to AVONEX alone.
TYSABRI increases the risk of PML, an opportunistic viral infection of the brain that usually leads to death or severe disability. Three cases of PML occurred in clinical trial patients who were concomitantly exposed to immunomodulators (interferon beta in the patients with MS) or were immunocompromised due to recent treatment with immunosuppressants (e.g., azathioprine in the patient with Crohn's disease). Two of the cases were observed in 1,869 patients with MS treated for a median of 120 weeks. A third case of PML occurred among 1,043 patients with Crohn's disease after the patient received eight doses. The number of cases is too few and the number of patients treated too small to reliably conclude that the risk of PML is lower in patients treated with TYSABRI alone than in patients who are receiving other drugs that decrease immune function or who are otherwise immunocompromised. Healthcare professionals should monitor patients on TYSABRI for any new signs or symptoms that may be suggestive of PML. TYSABRI dosing should be withheld immediately at the first sign or symptom suggestive of PML.
TYSABRI is contraindicated in patients who have or have had PML or with known hypersensitivity to TYSABRI or any of its components. In Phase III placebo-controlled trials of TYSABRI in MS, the overall incidence and rate of other infections were balanced between TYSABRI-treated patients and controls. Herpes infections were slightly more common in patients treated with TYSABRI. Commonly reported infections with TYSABRI included urinary tract infections, lower respiratory tract infections, gastroenteritis and vaginitis. Serious opportunistic and other atypical infections have been observed in TYSABRI-treated patients, some of these patients were receiving concurrent immunosuppressants.
The incidence and rate of other serious and common adverse events in clinical trials were similarly balanced between treatment groups. Serious events that occurred in TYSABRI-treated patients included hypersensitivity reactions (e.g., anaphylaxis), depression and gallstones. Appendicitis was more common in patients receiving TYSABRI with AVONEX. Common adverse events reported in TYSABRI-treated patients include infusion reactions, headache, fatigue, joint and limb pain, abdominal discomfort, diarrhea and rash.
For more information about TYSABRI please visit www.biogenidec.com, www.elan.com, or www.tysabri.com.
About Biogen Idec
Biogen Idec creates new standards of care in oncology, neurology and immunology. As a global leader in the development, manufacturing, and commercialization of novel therapies, Biogen Idec transforms scientific discoveries into advances in human healthcare. For product labeling, press releases and additional information about the company, please visit www.biogenidec.com.
About Elan
Elan Corporation, plc is a neuroscience-based biotechnology company committed to making a difference in the lives of patients and their families by dedicating itself to bringing innovations in science to fill significant unmet medical needs that continue to exist around the world. Elan shares trade on the New York, London and Dublin Stock Exchanges. For additional information about the company, please visit www.elan.com.