Drug Addiction?

July 16, 2010

The news that Elan has set aside $206 million to settle claims on sleazy marketing of an epileptic drug they divested in 2004 simply adds to the pain I’ve been feeling in this name lately.

That’s really drastic when you think about it, since they only had gross revenues of $219 million on the drug over a five year period, but they feel that the US legal system is likely to hand them a bill that large.  Pretty amazing when diabetes drug Avandia stays on the market in spite of heart attack risk the company knew about and failed to disclose.

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