In case you didn't notice, Elan
But shares doubled in 2011, and while they still haven't reached 2008 levels, the trajectory is impressive. The reasons for the meteoritic rise are twofold.
First, Elan has gotten its financial house in order. A couple of years ago, the company sold off half of its interest in its Alzheimer's disease drug bapineuzumab to Johnson & Johnson
Elan was able to secure more cash through the sale of Elan Drug Technology to Alkermes
As important as getting its financial situation in order, Elan and marketing partner Biogen Idec
And Elan and Biogen are working on a test to detect the virus that causes PML. Patients that don’t have the virus aren't as susceptible to acquiring PML after taking Tysabri. The risk-stratification strategy could reaccelerate sales of the drug.
Increased sales and getting its financial situation in order have allowed Elan to register positive earnings last quarter. And maybe that's the ultimate reason for the stock price gain this year. Despite some biotechs' attempts, you can't keep losing money indefinitely.
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