Elan shares plunge as another patient dies
Thursday, June 2, 2005
Whilst US stock markets have not yet opened for business, Athlone based Élan has suffered a 22% drop on the Irish Stock Exchange and a 21.5% drop on the London Stock Exchange. That means that so far today the firms market value has dropped by over €400mm to €1.9bn. The firm was once valued at over €20bn before the failure of Tysabri and an accounting investigation.
Élan was once one of Ireland's biggest business success stories. Élan still employs over 2,000 people in Ireland and reported revenues of $464.0 million in 2004.
- "Elan; Biogen withdraw multiple sclerosis drug after death" — Wikinews, March 1, 2005
- "Elan shares fall on reported fourth PML case" — , June 2, 2005
- "Elan falls on new report of Tysabri-linked illness" — , June 2, 2005
- Jeffrey Krasner. "A fourth death may be tied to Biogen's MS drug" — , June 2, 2005
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