13 June, 2005 15:18 GMT
Shares in
Elan Corp. PLC fell Monday after a US newspaper reported that its top drug in development, Tysabri, was being linked to a possible fifth case of a rare brain disease.
Tysabri, which is being developed jointly with
Biogen Idec Inc. of Massachusetts for sufferers of multiple sclerosis, was withdrawn from the US market on Feb. 28 after being linked to two cases of progressive multifocal leukoencephalopathy, or PML.
Not Yet Confirmed
Since then the companies have announced a third case of PML in a Tysabri user, while the Boston Globe newspaper on June 2 reported a fourth suspected case.
In the latest report, The Wall Street Journal reported Monday that the US
Food and Drug Administration received a report of a possible fifth case May 16. The FDA said the fourth and fifth patients were not yet confirmed cases of PML, which is usually fatal.
Elan declined to comment on the Journal report.
Tysabri's withdrawal from sale and uncertain prospects have battered Elan shares, which fell 7.3 percent to €5.39 (US$6.49) in afternoon trading on the Irish Stock Exchange -- well off their 2005 high of €22.40 (US$27.13) set before Tysabri's withdrawal.
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