Shares in Elan rose 4 per cent this morning following the approval by the US Food and Drug Administration of a drug treatment for multiple sclerosis that appears to cut relapses of the autoimmune disorder.
Tysabri, developed by Biogen Idec Inc. and Elan Corporation and formerly called Antegren, is the first kind of drug to prevent inflamed cells from escaping into the tissue of the brain, where they can cause unpredictable neurological problems.
Shares increased by 0.90c to €21.80, an increase of 4 per cent.