A clinical study published in the New England Journal of Medicine contains promising data about the use of one of Elan's key drugs, Antegren, in the treatment of multiple sclerosis.
The study, published yesterday, found natalizumab - marketed by Elan and US company Biogen as Antegren - reduced new inflammatory brain lesions and relapses in patients with relapsing forms of multiple sclerosis.
Multiple sclerosis, which affects about 2.5 million people worldwide, can be notoriously difficult to study because its symptoms wax and wane over time, making it hard to determine whether a treatment works or not.
Natalizumab apparently works by blocking immune cells from leaving the bloodstream, preventing them from attacking the brain or the gut, researchers said. It belongs to a new class of compounds known as selective adhesion molecule inhibitors.
Another study in the same journal also showed promising results for Antegren in patients with Crohn's disease, although its usefulness in these cases is less clear.
Elan is collaborating with Biogen in developing Antegren, which is seen as one of the most promising products in its drugs pipeline.
Both studies were paid for by Biogen and Elan. More than half the authors of the studies have financial ties to the companies.
More extensive tests of the drug are already under way.
An editorial in the Journal said natalizumab or similar drugs may prove to be effective against other autoimmune diseases such as rheumatoid arthritis, asthma, atherosclerosis or ulcerative colitis.
Elan announced yesterday that it had completed the sale of Athena Diagnostics to Behrman Capital for $82 million (€78 million).
The sale, details of which were announced in November, brings to $680 million the amount raised by Elan in an asset-divestiture programme designed to secure the company's future.
"In the five months since the announcement of our recovery plan, we have accomplished nearly 45 per cent of the stated target of $1.5 billion to be achieved by the end of 2003," said Elan chairman Dr Garo Armen. "I am confident we will reach our divestiture targets ahead of schedule."
In another move to raise funds, GlaxoSmithKline has bought five skin-care products from Elan, including Aclovate and Cutivate for itchy skin and eczema.
Elan, which is exiting the dermatology business, has said the five treatments generated sales of $62 million in 2001 and $35 million in the first six months of 2002.
GlaxoSmithKline did not reveal how much it was paying for the five products. - (Reuters)
