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Biotech / Medical : Elan Corporation, plc (ELN) -- Ignore unavailable to you. Want to Upgrade?

To: dr.praveen who wrote (9076)	9/7/2006 9:29:43 PM
From: dr.praveen	Respond to of 10345

Teva has global exclusive rights to develop,register, manufacture and commercialize laquinimod except Nordic/Baltic regions Active Biotech to retain Nordic/Baltic commercial rights Teva to conduct and fund further clinical development of drug Expected to generate $92 million in overall milestones Active Biotech to receive tiered double digit royalties on future sales 15 year royalty period on country-by-country basis Laquinimod is a modified version of roquinimex (Linomide®), which was originally developed by Pharmacia for treatment of MS Laquinimod induces immunomodulation without general immunosuppression Phase I trial in MS patients indicated Maximum Tolerated Dose of 1.2 mg/day (one month treatment) For efficacy results in p2 trial: slide 8 of R & R presentation at activebiotech.com Details and market cap: Symbol ACTI Exchange Stockholm Stock Exchange Shares Outstanding 39,742,926 (as of March 31,2006) Price 79,50 SEK (as of April 27, 2006) ~US $10.58 Market Capitalization 3160 MSEK (as of April 27, 2006) ~US $421 M My Thoughts: Efficacy is good and dose responsive but less (in P2 0.3mg dose) compared to tysabri.However this is an oral compound.The full results of P2B at the upcoming TEVA presentation should be interesting with the 0.6mg dose. However the milestones are not great from TEVA as above and the current market cap is already approaching 500M USD. Regards, Praveen