A US law firm said a class action lawsuit has been filed on behalf of shareholders in Elan in connection with the withdrawal of its multiple sclerosis drug Tysabri.
The complaint alleges that the company failed to disclose and misrepresented material adverse facts in connection with Tysabri - including serious immune-system side effects and that the drug could make patients susceptible to progressive multifocal leukoencephalopathy (PML).
The lawsuit also alleges that information was concealed to fast track Tysabri for FDA approval.
On February 28th, Elan voluntarily suspended the marketing of Tysabri after the death of a patient treated with the drug in combination with Avonex in clinical trials, and another person developed PML.