MY PICK IS ELN

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  • jiesen
    Senior Member
    • Sep 2003
    • 5320

    On drug risks

    Recent and archived work by Deroy Murdock for National Review.



    October 19, 2005, 8:31 a.m.
    Show Me the Risk!
    A drug’s a gamble? Put the decision in the hands of doctors and patients.



    According to The Archives of Internal Medicine, pharmaceutical companies market a drug that kills some 7,000 Americans annually. These people don’t die instantly, but instead expire after slowly suffering gastrointestinal bleeding. Oddly enough, TV-news producers are ho-hum about this deadly medicine. The Food and Drug Administration has yet to prohibit it. Personal-injury attorneys aim their crosshairs elsewhere. No one seems much concerned about a lethal substance called aspirin.




    That’s right. Aspirin — a drug so trusted that moms give the St. Joseph’s strain to their children — kills more than 580 Americans each month. And nobody cares.

    Americans judge aspirin’s risks (widespread deaths) against its benefits (pain relief, improved cardiovascular health). Our verdict: We love it!

    Compare this to the often much-lower death tolls associated with newer, more exotic drugs, like Lotronex, Propulsid, Tysabri, and Vioxx. Rather than aspirin-driven complacency, these drugs fuel voluntary product withdrawals, government mandates, screaming headlines, and massive jury awards.

    Americans should think differently about drugs, their risks, and their rewards.

    First, the 100-percent-perfect drug is as illusory as the perfect, crash-proof car or the perfect, flood-proof house. Patients and doctors must weigh unfortunate imperfections (even potentially fatal ones) against whatever physical and/or mental satisfaction drugs offer.

    Second, while some Americans stand and cheer — usually in front of TV cameras — when a drug disappears from pharmacies, others are horrified to see medicines that have eased or eliminated their discomfort suddenly vanish from their lives. Let’s call this man-made disease “stranded-patient syndrome.”

    GlaxoSmithKline introduced Lotronex for Irritable Bowel Syndrome in early 2000. After reported complications, including four deaths, plus heightened FDA scrutiny, GSK withdrew Lotronex, although the vast majority of IBS patients enjoyed it.

    “I don’t want Big Brother in my medicine cabinet,” Edna Wakeham told the Chicago Daily Herald in May 2001. “I know the risks, and I would take it again, warts and all.”

    Those risks were, frankly, infinitesimal. Looking at deaths alone in this exercise, among the 300,000 IBS patients who took Lotronex, four passed away. Rough division reveals that this drug was 99.9867 percent non-lethal. Contrast that to aspirin’s 7,000 deaths among 20 million people who use it daily to prevent strokes and heart attacks. This ratio shows lower non-lethality at 99.965 percent. According to the January 16, 2005, Health Sentinel, common surgical procedures are even riskier. Cardiac catheterization is only 99.8-percent non-lethal, while hip surgery is an even worse gamble at 99.7101-percent non-lethality. Yet these operations are routine.

    No one proposes padlocking hospitals, either, despite the massive toll of nosocomial infections, or those acquired inside medical centers. According to Hudson Institute Senior Fellow Jeremiah Norris, such infections contribute to 88,000 deaths annually at a cost of $4.5 billion. Across some 20 million hospital patients each year, this yields an even more frightening 99.56 percent non-lethality rate.

    Not unlike the Lotronex case, just three months after the FDA approved Tysabri, Biogen-Idec and Elan Pharmaceuticals withdrew their Multiple Sclerosis drug last February 28. Among Tysabri’s 8,000 users, three developed a rare neurological ailment called PML. Although two died, Tysabri still was 99.975-percent non-lethal; general anesthesia is less safe at 99.9729 percent non-lethal. Nonetheless, America’s 400,000 MS patients have lost this once-effective treatment. Of six FDA-approved MS drugs, five remain.

    Janssen Pharmaceutical’s Propulsid treated heartburn and acid-reflux disease until its removal in 2000. This followed an FDA report of 80 deaths since Propulsid’s 1993 launch. Against 30 million prescriptions, this suggests 99.9997-percent non-lethality — breathtakingly near 100 percent.

    “People who need Propulsid have to cut through more red tape than a drug company filing a patent for a new pill,” Senator Charles Schumer (D., New York) complained in November 2000. “These patients have no other options left and have painful disorders that demand treatment right away. They don’t have the luxury of waiting to get their hands on this medicine.”

    In October 1998, Wyeth-Lederle launched RotaShield, a vaccine to prevent rotavirus diarrhea, an ailment responsible for 50,000 to 60,000 hospital admissions and between 20 and 40 deaths in America alone. However, Wyeth withdrew the drug from the U.S. market in October 1999 after the FDA associated it with sometimes-fatal bowel obstructions in one child among every 40,000 vaccinated. Wyeth soon pulled RotaShield from clinics and hospitals worldwide.

    Rotavirus kills 1,622 children in the third world daily, according to the National Institute of Health. Despite RotaShield’s non-complication rate of 99.9975 percent, the bodies of children who suffered death by diarrhea kept piling up at a rate of 592,000 annually. In India, the retrovirus death rate stood at one child per 200, a non-lethality rate of 99.5 percent, according to the May 2000 issue of Immunization Focus. Meanwhile, experts fretted about the far-lower risk of vaccine-related intestinal blockage rather than the clear-and-present danger of rotavirus itself.

    After foreign pediatricians and public-health administrators determined that RotaShield’s benefits outweighed its costs, they persuaded the NIH to approve the drug once again in May 2004 to fight this disease in overseas nations that lack such things as soap and water, flush toilets, and readily available doctors. As one industry executive grimly observes: “Almost 3 million children under the age of 5 years died between the time RotaShield was removed from the market and the grant of a new license.”

    What about Vioxx, the drug that launched 5,000 lawsuits? This shelved pain reliever has sandbagged Merck in litigation, soaked it in bad ink, and strapped cinderblocks to its stock price. Critics claim that 27,785 Vioxx users have died in cardiovascular episodes since its 1999 debut.

    “Any estimates of harm from Vioxx are speculation,” a Merck spokesperson responds. “There are many risks for heart attack and stroke, including high blood pressure, smoking, high cholesterol, and genetics just to name a few. Thus, determination of whether Vioxx was responsible for any patient’s heart attack or stroke can only be made on a case-by-case basis.”

    Still, across 9.28 million prescriptions, “big, bad Vioxx” is 99.7 percent non-lethal, even accepting these disputed fatalities. Those who long for Vioxx like those odds.

    “When I was diagnosed with rheumatoid arthritis in 1998, my life changed dramatically,” Dimitra Poulos told an FDA panel on February 17. “Socially, I could no longer sit in a movie theater or take a walk. Car trips to visit out-of-town family members were out of the question.” She continued: “But that was before Vioxx. I have taken Vioxx for over five years with absolutely no side effects. Vioxx gave me my life back…I have 40 Vioxx left. I have 40 days before my life and my abilities will be severely altered. I will assume all responsibility and sign any waiver. Please give me that option.”

    “Pain matters,” explained Atlanta rheumatologist W. Hayes Wilson. “It may not kill you, but you may wish that you were dead.” He added: “We should try to figure out what is unique about the 1 to 2 percent of patients with very serious side effects rather than deprive the 98 to 99 percent of patients with significant relief from their arthritis pain who have not experienced a serious side effect.”

    Let’s ditch the government decrees and corporate recalls. Drug makers should market whatever they wish, provided they frequently disclose the numbers of deaths and serious side effects associated with their products along with the numbers of people taking them. Patients and doctors should compare risks and rewards and consider individual circumstances instead of categorical edicts. Forbidding and mothballing drugs may protect those jeopardized by certain compounds, but doing so often amplifies the agony of others for whom the disease remains worse than the cure.

    Deroy Murdock is a New York-based columnist with the Scripps Howard News Service and a senior fellow with the Atlas Economic Research Foundation in Arlington, Va.

    Comment

    • kingofthehill
      Senior Member
      • Nov 2003
      • 487

      hang in there guys we will get paid nicely ...........


      DJ FOCUS: Elan Investors Hoping For FDA Priority Review

      --------------------------------------------------------------------------------

      Dow Jones Real-Time News for InvestorsSM
      12:29 p.m. 10/21/2005



      By Quentin Fottrell

      Of DOW JONES NEWSWIRES


      DUBLIN (Dow Jones)--Elan Corp. PLC (ELN) is hoping a U.S. Federal Drug Administration decision due next week at the earliest will give priority review for its multiple sclerosis drug Tysabri, observers said Friday.

      Elan and joint partner Biogen Idec PLC (BIIB) last month requested priority review status for Tysabri, which could result in action by the FDA 6 months from last month's submission date, rather than 10 months.

      This could see Tysabri back on the market by March, rather than mid-summer 2006, say analysts, who expect the FDA to make a response by Wednesday though the FDA could also take another 30 days, an Elan spokeswoman said.

      NCB Stockbrokers analyst Orla Hartford, who has a buy on Elan, said she's "hopeful" that the FDA will grant a priority review aimed at fast-tracking Tysabri's return to market "due to the unmet medical need in MS."

      Elan and Biogen Idec suspended Tysabri in the U.S. Feb. 28 after two patients contacted the rare neurological disease PML. A third case was confirmed later. All affected patients were on combination therapy.

      Before Elan's third-quarter results next Thursday, NCB's Hartford said focus will remain firmly on Elan's approximate $870 million net debt and, crucially, on priority status for Tysabri by the FDA.

      In August, Elan said a safety study found no new PML cases in MS Tysabri patients and, this week, confirmed no new cases in those with Crohn's disease and rheumatoid arthritis, completing its safety review of 3,000 patients.

      Still, while most analysts who hold the stock are betting on Tysabri returning to market, some fund managers are still skeptical, saying Tysabri needs to be the much-hoped for blockbuster drug.

      Anne Marieke Ezendam, who runs the global healthcare fund at Threadneedle Investments in London, said she's "convinced" Tysabri will come back to market, "but to a smaller market and not before summer of 2006."

      "Elan's underlying cash burn on sales force and research is very high," she said. "Tysabri needs around $550 million per year in sales to offset Elan's current spending. I'm not sure if the market will support that."

      Elan has also submitted Tysabri's two-year Phase III data, safety review data and its proposals for labelling/monitoring of Tysabri patients to the European Medicines Agency. No timeline has yet been given.

      At 1626 GMT, Elan's shares were down 27 cents, or 3.8%, at EUR6.73 on the Irish Stock Exchange. The ISEQ Overall Index was down 1.2%. The shares have fallen from EUR20.30 after Tysabri was suspended in February.

      After a volatile few years, the company seems to be continuing a focus on reducing costs and simplifying its business model and balance sheet, while also focusing on its key drugs, Tyasbri and pain drug Prialt, analysts say.

      The safety review comes after a long and arduous recovery, which began with a change of senior management in 2002, when Elan's late former CEO and Chairman Donal Geaney resigned amid accounting troubles and a falling share price.

      Company Web site: http://www.elan.com

      -By Quentin Fottrell, Dow Jones Newswires; +353 1 676 2189; [email protected]

      Comment

      • kingofthehill
        Senior Member
        • Nov 2003
        • 487

        my comments first ...yes this is getting old ... i owned this stock from $4.00 to $30.00 bought alot more at $3.00 t0 5.00 ..and even some in the 8.00 range..but i am willing to wait it out till the US based brokers see the light ...KING

        McLaughlin ups stake in Elan
        Wednesday November 2nd 2005


        ELAN chairman Kyran McLaughlin, left, has spent $401,000 (€337,000) to raise his stake in Elan, according to a Stock Exchange announcement.

        The announcement says that Mr McLaughlin purchased an additional 50,000 shares at a price of $8.02 each.

        Elan, which has a strong following in the US, has its shares traded in both dollars and euro.

        The purchase brings Mr McLaughlin's Elan stake to 150,000 shares, representing an effective 0.35pc stake.

        This year Elan's share price has recovered from a low point of €2.30 after earlier falling from a high of €22.40.

        In Dublin yesterday the stock was up by over 1pc or 8c, closing at €6.85.

        Comment

        • Websman
          Senior Member
          • Apr 2004
          • 5545

          Hmmm...insiders are buying? Now, I wonder why they would be doing that???

          Comment

          • Websman
            Senior Member
            • Apr 2004
            • 5545

            Hahaha! Here's a good story from the Wall Street Journal.



            MS Drug Shows Effectiveness
            In Treating Crohn's Disease

            Associated Press
            November 2, 2005 5:15 p.m.

            NEW YORK -- A multiple sclerosis drug that was pulled from the market for safety reasons has shown some effectiveness against the painful bowel disorder Crohn's disease, researchers say.

            Tysabri didn't work very well against Crohn's in a short-term study but brought some relief to patients who continued receiving the drug for a year.

            The makers of Tysabri halted sales of the drug in February, months after it was approved for MS, because of fears it may be linked to a rare brain disease. Three patients getting Tysabri got the disease and two died.

            Elan Corp. and Biogen Idec Inc. recently said a safety review found no new confirmed cases of the brain disease in patients treated with Tysabri. They are seeking government approval to resume selling the drug, also called natalizumab.

            An estimated 500,000 Americans are afflicted with Crohn's disease. The cause is unknown and there is no cure. Symptoms include abdominal pain, persistent diarrhea and fever. Drugs to control inflammation and suppress the immune system can bring some relief. Tysabri attaches to the immune cells and prevents them from reaching areas of inflammation.

            In Thursday's New England Journal of Medicine, researchers reported the results of two company-funded international studies of Tysabri for Crohn's.

            In the first test, 905 patients got three infusions of Tysabri or a placebo infusion over eight weeks. The two groups had similar rates of response and remission. In the second study, 339 patients from the first test who had improved with Tysabri were given either the drug or a placebo every four weeks for a year. Those who got the Tysabri had higher rates of sustained response (61% vs. 28%) and remission (44% vs. 26%).

            Elan's Lars Ekman said the drug has now been tested in 1,500 Crohn's patients, including those in another yet-unreleased positive trial. "We remain very confident that Tysabri will be made available over time as a treatment alternative in Crohn's," said Dr. Ekman.

            In an accompanying editorial, Daniel Podolsky of Massachusetts General Hospital said not enough is known yet about Tysabri's effectiveness against Crohn's to determine whether the drug is worth the risks.

            Ellen J. Scherl of Weill Medical College of Cornell University, who had patients in the first study, said the research identified some types of patients who may benefit most from Tysabri. "It would be a loss for us not to have this as an option for patients," she said.

            Copyright © 2005 Associated Press

            Comment

            • spikefader
              Senior Member
              • Apr 2004
              • 7175

              Originally posted by Websman
              Hmmm...insiders are buying? Now, I wonder why they would be doing that???
              Cuz they can't read a chart?? ~jk~

              Hey, I'm sorry ELN believers. But I'm going to have a rave. Apologies in advance. It's all in good nature. I WANT you all to do well. And in that light, here are my thoughts. The chart I'll leave to the end. But on the fundy side - yes, you read it right - I was listening to an interview recently; a researcher interviewing an MS patient. Don't ask me for a reference; you'll have to take my word for it. Anyway, this person had terrible symptoms. Terrible. I feel for MS sufferers. It's really a crying shame. Anyway, my pity aside, this person was tough! They have endured everything from paralysis to blindness. Can you imagine.... I can't. Praise da Lord for my good health, and you should too if you have it. But anyway, I'm digressing. Back to my point. This vicitm, a reasonable person, with common-sense, and a desire to not become a
              quadraplegic, a wish toavoid those painful weekly treatment needle shots with products like Avonex or Betaseron. This person when they heard about Tysabri got excited about the once-a-month injections. But you know what?!? ........... This person still conveyed hesitancy and fear of Tysabri. Those less-common side effects really do scare potential users of Tysabri. Sure, it's showing so much more promise than Avonex or Betaseron, but those potential side-effects are real, and a lot more disturbing than Avonex. They are more Frightening! This person with serious MS symptoms still only gave a 50:50 chance that they would use Tysabri. So if serious MS victims are scared of this drug despite the low incidence of these bad side effects, how is ELN going to get that enormous amount of sales it needs for this to work out positive for shareholders? Right now, dudes, it's a big gray area, and does NOT set up bullishly in my view. Show me the sales. Show me the proof. Give me a chart that shows people buying gap ups, not selling them, and I'll be a believer.

              I don't want to rain on anyone's parade or optimism, but come on, let's get real. WHEN is it going to prove itself? SEC fast track isn't going to change the fundies as I see them right now.

              The chart:
              Still the same old bearishness. There are better longs out there dudes. Why pin optimism on hope? Why not find winners like the
              Appreciable AAPL or the Gigantic GOOG?? Or if you like NC Health sector, the Humongous HSKA.



              WHEN is ELN going to deliver?!!


              Rant over, apologies extended.

              Comment

              • Gatorman
                No Posting allowed; invalid email
                • Dec 2004
                • 448

                Speaking of AAPL

                Spike:
                Trying to keep with my selling goals, I recently sold AAPL for a 15% gain. Was in at 50.15 and out at 57.67. This might have been a bit premature. What are your thoughts about a good re-entry level?

                Comment

                • spikefader
                  Senior Member
                  • Apr 2004
                  • 7175

                  Originally posted by Gatorman
                  Spike:
                  Trying to keep with my selling goals, I recently sold AAPL for a 15% gain. Was in at 50.15 and out at 57.67. This might have been a bit premature. What are your thoughts about a good re-entry level?
                  AAPL in HOLD/stalk mode now.

                  Comment

                  • Websman
                    Senior Member
                    • Apr 2004
                    • 5545

                    Originally posted by spikefader
                    Cuz they can't read a chart?? ~jk~

                    Hey, I'm sorry ELN believers....Blah, Blah, Blah...


                    I don't want to rain on anyone's parade or optimism, but come on, let's get real. WHEN is it going to prove itself? SEC fast track isn't going to change the fundies as I see them right now....Blah, Blah, Blah...

                    The chart:
                    Still the same old bearishness.

                    Rant over, apologies extended.






                    You're a mean one Mr Grinch...


                    (just joking, of course)

                    Comment

                    • kingofthehill
                      Senior Member
                      • Nov 2003
                      • 487

                      Elans 900lb gorilla of a partner will not hype, or talk about this wonder drug until the FDA green lights it back to market, why because Biogen needs to keep telling the story that thier worthless product AVONEX is the greatest thing for MS ... they have BILLIONS of reason to hide the truth till its reapproved, Biogen owns the license in the USA for Tysabri.

                      I am willing to wait

                      Comment

                      • kingofthehill
                        Senior Member
                        • Nov 2003
                        • 487

                        nice day above average volume and stock is trading at 9.23

                        Comment

                        • Websman
                          Senior Member
                          • Apr 2004
                          • 5545

                          Spike??? Spike???

                          Where are you Spike??? Are you ready to put your bull hat on yet?


                          Let's hope ELN holds these gains next week.

                          Comment

                          • skiracer
                            Senior Member
                            • Dec 2004
                            • 6314

                            Webs,
                            Take those gains anyway you can get them Webs. You own it from 6.89 and you've got the gains to prove it. Anyone that's not it in can only procrastinate about what they think it will do. Personally I don't believe in it but I don't own it either and wish I was in from where you are. There was a positive article on the drug this morning that came across the news wires about the FDA approving it later next year and again the bounce came off the news rather than true strength. But the proof remains in the fact that the stocks price is up over 9 now and you own it. So thumbs up to you for having the fortitude to hold on to your beliefs. Do you think it will retrace back under 9 to the mid or lower 8 range because if you do it might not be a bad idea to take some profit now because today was just momo players taking advantage of the news break and you can bet that they will be taking their profits next week. Good luck with it.

                            THE SKIRACER'S EDGE: MAKE THE EDGE IN YOUR FAVOR

                            Comment

                            • spikefader
                              Senior Member
                              • Apr 2004
                              • 7175

                              Originally posted by Websman
                              Spike??? Spike???
                              Where are you Spike??? Are you ready to put your bull hat on yet?
                              Let's hope ELN holds these gains next week.
                              Bull hat????!!!! Are you kidding me?! I'm stalking a short next week! haha

                              Keep on hoping dude. The chart doesn't matter.... haha

                              Seriously though, for me to get bullish on it, it has to get into the gap on closing basis and act bullish for a while and do impressive stuff.

                              It's been seriously beaten down, and at risk of falling from resistance. Take a look at the 10 yr monthly chart for it. It's a big bear flag. Why would anyone buy this at gap resistance now, major channel short, price resistances from 1995 with volume on the monthly that has been falling, with very poor money flow and price action the last few months. It's just not inspiring. I think the chart whispers that it's in jeopardy of going to zero. Tell me this: what will happen to the price if Tysabri gets rejected? How bad does ELN rely on it? What's the worst fundamental news that could come out? What if there's a scandal? I think longs are a gamble. Now bulls, SHOW me some spectacular stuff. Change my view. Until then I'll be Devil's Advocate for you believers. And I strongly suggest that if you're in big with this one, that you hedge in some way...especially at resistances like this.

                              Webs; do you have a stop on your ELN? Do you have a target? Didn't you say the other day you were closing yours soon? If you were thinking about it, this is the place to do it. You can always reenter once it PROVES it's worth it.

                              And of the other tickers I mentioned the other day, GOOG, AAPL, HSKA, check these out relative to ELN. They are outperforming stocks that you should believe in. Don't hope on the unknown dangerous ones, find the real gems. I don't think ELN is a gem. Forgive me







                              Comment

                              • Websman
                                Senior Member
                                • Apr 2004
                                • 5545

                                Ahhh, there you are Spike. I was hoping you'd bring me back down to earth. lol

                                Comment

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