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Wednesday, August 10, 2005

Important Correction Re: Elan

In today's Motley Fool, I had an article discussing Elan. In the body of the article, I made one serious mistake (I have already asked TMF to issue a correction) and a second issue should have been elaborated on.

The mistake is regarding the number of patients who have died from Tysabri. I said the number was three, but it should have two ... and, quite possibly, even one.

The second PML case was diagnosed on a Crohn's patient, who already passed away but whose death was initially misdiagnosed and attributed to Tysabri. The person is now believed to have died of another illness.

In each case, it is also important to note that the PML was complicated by the fact that all 3 patients were either on AVONEX or some other immunosuppressive therapy. That is ... they were taking other drugs in addition to Tysabri.

When used as a monotherapy, the number of PML cases or deaths attributed to Tysabri is zero.

I still stand by stock recommendations ... but these facts could easily lead investors to a conclusion other that which I reached.

The second point I want clarify in the article relates to this sentence: "Yesterday's increase seems to reflect a more balanced and appropriate response. This is because if and when Tysabri receives new FDA approval, its use will be limited to those MS suffers who have no alternative treatment."

I should have said "its use will probably be limited." The comment was based on my belief that the FDA tends to be fairly conservative with drugs when there is a known alternative and, as such, will likely limit its use to those MS suffers for whom there is no other alternative.

It is important to note that this is my opinion and does not reflect a definitive statement ... although it reads like one ... and, for that, I apologize.

As always, I encourage my readers to do their own due diligence ... and this article aptly demonstrates why!

Related Links:
Nanotech Investors: Keep Your Eye on the Prize
Starpharma "Nano" star on the rise?
Elan Good News for Nanotech Investors?
pSivida: Down Under Comapny has Big Upside Potential

Jack Uldrich