Elan Shares Plunge Following Alzheimer’s Drug Trial
July 30, 2008
Washington (ChattahBox) - Shares for Ireland’s biggest drug maker Elan Corp plunged 26% in Dublin trading after they reported the results of a trial on their new Alzheimer’s treatment drug.
Elan was working with Wyeth on the new Alzheimer’s treatment drug known as bapineuzumab.
What they reported though was not positive, as it did not help the majority of Alzheimer’s patients.
The new treatment was aimed to slow down the progression of memory loss in Alzheimer’s patients.
The problem though was that the drug did not work in anyone with the gene ApoE4, which is very common among the majority of Alzheimer’s patients.
There were also side effects reported, which included brain swelling.
The research was presented at the International Conference on Alzheimer’s Disease in Chicago.
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