* Elan (Other OTC: ELNCF - news) to buy back $1 bln of shares after Tysabri sale * Deal is "unique opportunity" to reward shareholders * Firm still working on acquisitions with rest of proceeds * Shares climb over 4 percent By Stephen Mangan DUBLIN, Feb 22 (Reuters) - Irish drugmaker Elan will return $1 billion to shareholders, giving them an immediate boost from the sale of its stake in multiple sclerosis (MS) treatment Tysabri to partner Biogen Idec (NasdaqGS: BIIB - news) . Elan shares climbed over 4 percent following the announcement on Friday, which also reiterated the company's intention to make acquisitions with the rest of the $3.25 billion raised from the deal. Tysabri was by far Elan's most important product, responsible for almost all its revenue and its sale creates uncertainty over the future shape of the company. "Close to 40 percent of Elan's current market cap could be invested in as yet unknown assets ... we are unlikely to gain the visibility needed to become constructive on the shares until transactions are concluded," said Deutsche Bank (Xetra: 514000 - news) analyst Richard Parkes. Elan is already pursuing potential deals for the next 12-18 months, Chief Executive … Continue reading →

DUBLIN (Reuters) - Irish drugmaker Elan (Other OTC: ELNCF - news) will return $1 billion (654 million pounds) to shareholders and seek acquisitions with the proceeds of selling its stake in blockbuster multiple sclerosis (MS) treatment Tysabri to partner Biogen Idec (NasdaqGS: BIIB - news) . The sale of Tysabri, which was by far Elan's most important product and responsible for almost all its revenue, leaves the company's future shape unclear, but the deal now offers it flexibility to buy new assets. The company said on Friday it would use almost a third of the $3.25 billion from the deal to buy back shares. "By unlocking a portion of the Tysabri asset value ... we have a unique opportunity to reward shareholders, diversify our business and create a highly distinctive business platform upon which to advance to the benefit of shareholders and patients around the world," Elan Chief Executive CEO Kelly Martin said. Elan is already pursuing potential deals for the next 12-18 months, Martin told Reuters in an interview earlier this month, which he said may not necessarily be restricted to the company's past. The Irish drugmaker has co-marketed Tysabri with the larger U.S. company for 12 years and … Continue reading →

The MS Center of Atlanta, along with the NMSS (National Multiple Sclerosis Society), are dedicated to remove all barriers to patient care. The Center is proud to team up with GPT (Georgia Partnership of Telehealth) and Dr. Brian Griner to set up the first dedicated telehealth center for MS in Valdosta, Georgia. (PRWEB) February 22, 2013 The MS Center of Atlanta, along with the NMSS (National Multiple Sclerosis Society), are dedicated to remove all barriers to patient care. The Center is proud to team up with GPT (Georgia Partnership of Telehealth) and Dr. Brian Griner to set up the first dedicated telehealth center for MS in Valdosta, Georgia. Dr. Griner is a Primary Care Physician and Dr. Jeffrey English along with the Centers other staff neurologist are on the MS Center side of this partnership. Patients will be able to see their MS specialist immediately from a primary care facility without traveling 4.5 hours (each way). The Center is to have sites across Georgia and hope the future will allow such care directly from every primary care physician's office. Separately Dr. English is developing similar relationships for concussion management through SCI-Atlanta (Sports Concussion Institute at Atlanta). Athletes with suspected concussion … Continue reading →

DUBLIN (Reuters) - Irish drugmaker Elan will return $1 billion to shareholders, giving them an immediate boost from the sale of its stake in multiple sclerosis (MS) treatment Tysabri to partner Biogen Idec. Elan shares climbed over 4 percent following the announcement on Friday, which also reiterated the company's intention to make acquisitions with the rest of the $3.25 billion raised from the deal. Tysabri was by far Elan's most important product, responsible for almost all its revenue and its sale creates uncertainty over the future shape of the company. "Close to 40 percent of Elan's current market cap could be invested in as yet unknown assets ... we are unlikely to gain the visibility needed to become constructive on the shares until transactions are concluded," said Deutsche Bank analyst Richard Parkes. Elan is already pursuing potential deals for the next 12-18 months, Chief Executive Kelly Martin told Reuters in an interview this month, which he said may not necessarily be restricted to the firm's past areas of activity. "By unlocking a portion of the Tysabri asset value ... we have a unique opportunity to reward shareholders, diversify our business and create a highly distinctive business platform upon which to … Continue reading →

Feb. 21, 2013 A drug that is currently used for cancer can relieve and slow down the progression of the autoimmune disease multiple sclerosis (MS) in rats, according to a new study published in PLOS ONE. The discovery, which was made by researchers at Karolinska Institutet in Sweden, might one day lead to better forms of treatment for patients with MS. Multiple sclerosis is a disease in which the immune system attacks the spinal cord and brain, damaging nerve tissues to cause visual impairment, paralysis and other neurological disabilities. There are approximately 17,000 MS victims in Sweden, most of who develop the disease between the age of 20 and 40. The disease is currently incurable, and the treatments that are able to ameliorate the symptoms can have severe side effects. "There is a particularly urgent need to find new, efficacious drugs with minimal adverse effects for patients with MS in the relapsing phase of the disease," says Assistant Professor Ingrid Nilsson at Karolinska Institute's Department of Medical Chemistry and Biophysics. The disease is caused when white blood cells attack the central nervous system. The CNS is normally protected by the blood-brain barrier, which governs what passes through the vascular walls. … Continue reading →