Biogen Idec and Elan said on Thursday they have notified regulators of two confirmed cases of a potentially deadly brain disease in multiple sclerosis (MS) patients being treated with Tysabri.
Sales of the drug were suspended in 2005 after three cases of the brain infection, progressive multifocal leukoencephalopathy (PML), developed.
Tysabri returned to the market in 2006 with limits after the Food and Drug Administration decided MS patients were willing to accept the risks given the potential benefits.
If you want to trade in the biotech space you’ve got to be careful, warns Guy Adami on Fast Money. News like this will hit from time to time and drag down shares considerably. I recommend staying with best of breed. I like Celgene.
> Biogen, Elan Stocks Tank on Problems With Tysabri
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