Well Marketwatch says your origal thoughts are correct and BIIB shares are up in tandem with ELN.
The Lundbeck rumour no doubt throws in a few more cents, though.
By Val Brickates Kennedy
Last update: 12:04 p.m. EDT March 26, 2009
BOSTON (MarketWatch) -- Shares of partners Elan Corp. (ELN:Elan Corporation plc
(ELN 7.63, +1.09, +16.7%) and Biogen Idec (BIIB 52.75, +1.23, +2.4%) moved higher Thursday, the day after Biogen management expressed optimism over future sales of the companies' controversial multiple sclerosis drug Tysabri. Shares of Elan shot up 15% to $7.53, while Biogen shares rose 2% to $52.74. According to analysts, Biogen management said during a presentation with investors Wednesday that they believe Tysabri sales will increase in 2009 as doctors become more comfortable with the product. Tysabri was pulled off the market for several months in 2005 after it was suspected of causing an extremely rare but deadly brain illness called PML in a handful of patients.
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