ELAN back from the depths (again !!)

jarvis - I like it, so I've copied it here for those too idle to follow the link :-)

Sticking with Elan
It looks like Merrill Lynch (MER, news, msgs) and Citibank (C, news, msgs) reiterated their sell recommendations on Elan (ELN, news, msgs). The analysts agree with me that Tysabri (a new treatment for multiple sclerosis) is likely to be re-approved by the U.S. Food and Drug Administration in March 2006. However, they think that doctors and MS patients will adopt a wait-and-see-attitude until the risk of progressive multifocal leukoencephalopathy (a rare and frequently fatal, disease of the central nervous system) is better understood, which will mean a slow sales ramp. I disagree. MS is a nasty disease and Tysabri has been shown to reduce relapses by 50% without making patients feel like they have the flu -- a side effect of other drugs. I think MS patients will be lined up to get Tysabri as soon as it comes back on the market. If I'm right, these Wall Street analysts are going to be pretty surprised. We'll see soon enough.