FDA Delay of Tysabri Verdict Not a Surprise (BIIB, ELN)

Elan Corp. (ticker: ELN) and Biogen Idec (ticker: BIIB) announced that the FDA has extended its review of Tysabri by three months, pushing the PDUFA date out to June 28th.

This was not entirely surprising given the complex risk management program that needs to be put in place before it is reintroduced; if anything, this is more favorable than an “approvable letter,