New data published in the US has shown that Elan's Tysabri drug may have significant benefits for MS sufferers .
Data presented this week at the annual meeting of the American Academy of Neurology (AAN) in San Diego showed that patients on Tysabri have reported less relapses and better quality of life.
"The Tysabri study data show not only significant reductions in relapses and disability, but also suggest improved quality of life. This is very encouraging," said Richard Rudick, director of the Mellen Center for Multiple Sclerosis Treatment and Research at the Cleveland Clinic, who presented the findings at the AAN meeting.
Tysabri was pulled abruptly last year following concerns about a link with a life-threatening side effect, but an independent advisory panel recommended that multiple sclerosis sufferers be allowed to take the drug, subject to certain risk controls.
Elan shares rose 4 per cent to €12.06 after releasing the results of its Phase III trials of the drug.
Davy stockbrokers said in a note to clients that its earnings forecasts for Elan assumed it would launch the drug by mid-2006. Elan aims to launch the drug within weeks of FDA approval, which it expects to receive following the extended review.