Elan at sell by Merrill

Elan Corp. plc was rated at sell by Merrill Lynch analyst Erica Whittaker. Merrill increased its net loss forecast for 2006 to $367 million from $327million. Merrill believes Tysabri will re-enter the market for MS under a restrictive risk management program, approved only for MS patients who have failed other therapy, and forecasts peak Tysabri sales of about $500 million. Shares of the Dublin, Ireland, pharmaceutical company were up 29 cents, or 2.28%, at $12.99 on volume of 16,088,400 shares versus the three-month running average of 9,890,540 shares. (NYSE: ELN)

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