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Elan Corporation, plc Message Board

  • munhoi munhoi Mar 13, 2005 12:39 PM Flag

    " Tysabri has not been abandoned"

     

    was that even an option?:



    The stock exchange investigation is expected to look closely at the practices of the Irish stockbroking firms. One area likely to come under scrutiny is whether employees of stockbroking firms have been adhering to the new required minimum 20-day time-lag between buying and selling shares.
    The exchange is also likely to investigate whether the same practices are being adhered to for CFDs, and to look at the marketing of these products to private clients.
    US shareholders last week filed a class action suit against Elan through New York law firm Stull, Stull and Brody. Another class action suit was filed against Biogen on behalf of investors who bought stock in the company between 18 February and 25 February.
    Last week brought more fall-out from the Tysabri affair, including the resignation of Thomas Bucknam, the general counsel of Biogen. It emerged that Bucknam had sold 89,700 Biogen shares on 8 February, the day Biogen told US regulators that a patient participating in the trial had died of the rare nervous system disorder progressive multifocal leuko-encephalopathy, or PML.
    Biogen co-founder Phillip Sharp has indicated that Tysabri has not been abandoned and that the companies plan to talk to the US Food & Drug Administration about new trials.

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    • was that even an option
      -----------------------------------------------
      more of a emotional statement about the declining stock price, as the price of the shares are valued as if this company is turning into a lemodade stand.

      As in "what the hell are you doing selling this company short, we didn't abandon the medication you shmucks"

 

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