"reasoning is that BMY's drug for ..... multiple sclerosis (MS) will be a huge success, and will be launched before the end of the year."
What drug is that ? Seems very doubtful any drug will come close to Elan's Tysabri data against MS, this drug is reportedly off to a very fast launch, with good reason too.
"....on the biotech battle-field, you need some élan...."