Elan falls on Phase III bapineuzumab miss

Elan Corp. plc (NYSE:ELN) fell $1.99 (15%) to $11.52 on Tuesday after Pfizer Inc. (NYSE:PFE) and partner Johnson & Johnson (NYSE:JNJ) reported late Monday that bapineuzumab missed the co-primary endpoints in the Phase III Study 302 trial to treat mild to moderate Alzheimer's disease. The trial enrolled about 1,100 patients who are carriers of the apolipoprotein E epsilon 4 (APOE4) genotype, which has been associated with increased risk of late-onset AD (see BioCentury, July 23). ...