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Elan says SEC probing stock action
LOS ANGELES April 11, 2005 - Elan PLC said Monday the
Securities and Exchange Commission is conducting an informal inquiry into
the company's stock activity after its shares plunged on the withdrawal of
its Tysabri multiple sclerosis drug.
Elan (ELN) said it was notified last month of the SEC inquiry.
Elan said the inquiry revolves primarily around its withdrawal of Tysabri
from the market Feb. 28. The drug was removed after a patient developed a
brain disorder and died. Another patient subsequently died after receiving
the treatment.
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