Deutsche Bank cuts Elan (ELN -9.9%) to Hold on the back of its sale of Tysabri to Biogen (BIIB...

|About: Elan Corporation, plc (ELN)|By:, SA News Editor

Deutsche Bank cuts Elan (ELN -9.9%) to Hold on the back of its sale of Tysabri to Biogen (BIIB +2.1%). Deutsche says the decision looks attractive because ELN "swapped hope for certainty." However, uncertainty over the use of the proceeds forces it to move to the sidelines.