Assuming that by 2009 the drug has about 7% of the U.S. multiple sclerosis market and 6% of the European Union market, it would generate revenue of $1 billion, A.G. Edwards says.
"We believe this level of success for Tysabri is already factored into the [Elan] share price, however, as the stock is volatile, we would not want to be selling the shares in the event Tysabri is allowed back on the market," the firm says in a research report dated Nov. 11.