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Sat 08 Aug 2008Elan shares plunge 50% on latest drug news
SHARES IN Irish biotech group Elan shed half their value yesterday after the company announced that two more multiple sclerosis (MS) patients taking its Tysabri drug had developed a generally fatal brain infection.The latest cases were the first to involve patients in Europe. Both patients had been on the drug for more than one year.
However, the company said it was not considering withdrawing the drug as it did previously in the US when the first cases of progressive multifocal leukoencephalopathy (PML) emerged in early 2005.
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