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European Union regulators rejected the drug Tysabri from Elan (ELN Quote) and Biogen Idec (BIIB Quote) as a treatment for the dangerous gastrointestinal ailment Crohn's disease.
The companies said Thursday they will appeal the decision.
Medical advisers to the European Medicines Agency said there was "insufficient evidence" of Tysabri's effectiveness in treating the chronic inflammatory disease. Tysabri is approved in the U.S., EU and several other markets for certain forms of multiple sclerosis. ...
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