Elan has great science and good drug delivery experience that they have expanded on with nanotech.
Anyone who thinks Tysabri is a slam dunk to return and be huge should chill out. Anyone who thinks Tysabri is definitely not coming back should chill out, too. There is considerable uncertainty. And Biogen is a wildcard.
aab-001 looks pretty good to me. But it is 3 years from the market, maybe more.
nano looks great and is the company's insurance plan.
There is a reason Elan is trading at $3b: it is growing but not fast enough to support that MC, and there is some upside with T that is not yet quantified. If T comes back, then Elan is a bargain right now, if not then it isn't.