Elan remains confident that its suspended MS treatment drug Tysabri will eventually come to the market and small scale manufacturing is currently under way.
Speaking at the company's Agm in Dublin today, Elan's chiefe executive Kelly Martin said a decision on the future of Tysabri will be made by mid to late summer following discussions with US regulators.
Trials of Tysabri were suspended following the deaths of two patients who developed a rare condition called PML. A third death was also later linked to the Tysabri trials.
Mr Martin told shareholders he was "very confident there is a way back for Tysabri" and that potential demand for among MS sufferers was very strong.
Mr Martin pointed to the efficacy of Tysabri in stopping the symptoms of MS reported in the trials before the suspension and described the interest in the drug as extraordinary.
Without or without Tysabri Mr Martin insisted that Elan's future remains promising and noted development in other pipeline drugs and the growth potential of its other divisions such as nanotechnology and contract drug manufacturing business.
In a worst case scenario of a permanent shelving of Tysabri Mr Martin insisted that Elan remained on course to break even in 2006 and has no concerns about meeting debt repayments which fall due in 2008.