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Canadian regulators approved the drug Tysabri for the treatment of relapsing-remitting forms of multiple sclerosis.

The drug is sold by U.S. company

Biogen Idec

(BIIB) - Get Biogen Inc. Report

and Ireland's

Elan

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(ELN)

.

"Clinical trials that have looked at Tysabri provide us with impressive evidence that it is a highly effective treatment for patients with MS," said Dr. Paul O'Connor with St. Michael's Hospital in Toronto.

Tysabri was approved in Europe and went back on sale in the U.S. in June. The drug was taken off the market last year following cases of a potentially deadly brain disease when it was used in combination with another Biogen Idec drug, Avonex.

Biogen Idec was up 31 cents at $45.19, and Elan was unchanged at $15.56.

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