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August 10th, 2005
Jack Uldrich: Shares of Elan (NYSE: ELN) and Motley Fool Stock Advisor recommendation Biogen Idec (Nasdaq: BIIB) jumped 14% and 7%, respectively, on yesterday's news that a recent Elan study found no new confirmed cases of the brain disease, PML, in patients who had taken Tysabri -- a promising multiple sclerosis-fighting drug that was pulled this spring after the deaths of three patients were linked to it.
Tuesday's news obviously bolstered investor confidence that Tysabri will make its way back onto the market, but does that make Elan a good investment opportunity? The answer is "no" in the short term and "yes" in the long term.
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