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>> MULTIPLE SCLEROSIS Latest News

FEB 22, 2013 - Yahoo! News

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Elan to return $1 billion to shareholders from multiple sclerosis drug sale

DUBLIN (Reuters) - Irish drugmaker Elan will return $1 billion to shareholders, giving them an immediate boost from the sale of its stake in multiple sclerosis (MS) treatment Tysabri to partner Biogen Idec. Elan shares climbed over 4 percent following the announcement on Friday, which also reiterated the company's intention to make acquisitions with the rest of the $3.25 billion raised from the deal. Tysabri was by far Elan's most important product, responsible for almost all its revenue and its sale creates uncertainty over the future shape of the company. ...

Tags: Elan to return $1 billion to shareholders from multiple sclerosis drug sale,  Multiple Sclerosis Latest News