Blog > Editor's Pic > Alzheimer’s drug makers Elan Corporation (ELN) and Wyeth (WYE) plummet on Phase 2 results
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Alzheimer’s drug makers Elan Corporation (ELN) and Wyeth (WYE) plummet on Phase 2 results

Posted July 30, 2008


ELN plummets on bad news as Hot Stock Confidential's Alzheimer pick rallies

ELN plummets on bad news as Hot Stock Confidential's Alzheimer pick rallies

Elan (ELN) and Wyeth (WYE) plummet on disappointing news, our own Hot Stock Pick in the Alzheimer field is up 7%!

by J. Christoph Amberger

Baltimore — (TFN): Shares in Ireland-based major biopharmaceutical company,  Elan Corporation, plc (NYSE:ELN) are in free fall after their Alzheimer’s drug bapineuzumab reported disappointing Phase 2 results.

Elan’s ADR is currently down almost 40% since yesterday’s close. More pain is imminent.

Elan and U.S. biopharmaceutical giant Wyeth ((WYE) have been developing the drug together. Trial results indicated that the drug was ineffective in treating people who have the ApoE4 gene most commonly found in Alzheimer’s victims. The drug was also linked to side effects like brain swelling, paranoia, anxiety, vomiting, and high blood pressure. Wyeth’s stock price is down a whopping 11%.

I’d like to point out that our own Hot Stock Confidential Alzheimer’s play has gained almost 7% since the markets opened today. And it is still in our buying range. What stock is it? We have included it in this Special Report.

What to do about ELN and WYE? Wait out today’s purge and buy back tomorrow!

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Posted by J. Christoph Amberger · Filed Under Editor's Pic 

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