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

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.
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