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Elan closes offices in New York and Tokyo

This article was originally published in Scrip

Executive Summary

Elanis to close its offices in New York and Tokyo and cut 114 positions early next year to direct more cash to its pipeline. The company said that it will also make adjustments to its commercial activities in Tysabri (natalizumab) for Crohn's disease. Tysabri, Elan's lead product, performed well in the third quarter, more than doubling in in-market net sales to $237 million. However, analysts still have little confidence in the drug given the cases of progressive multifocal leucoencephalopathy that have been confirmed in patients receiving Tysabri (Scrip Online, October 24th, 2008). Elan, which employs around 1,700 workers globally, will now shift its focus from a traditional sales and commercial model to a model based on clinical support and education, Dr Carlos Paya, the company's president said.

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