Elan submits application

Elan Corporation and Vanguard Medica Group have submitted their new drug application, Miguard, to the US Food and Drug Administration (FDA) for approval. The drug treats acute migraine which is estimated to affect more than 20 million people in the United States. The companies said the market is worth more than $1 billion a year. Vanguard will be responsible for the manufacture and supply of Miguard and will receive royalties from Elan based on sales in north America.