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Investors said the experimental drug, known as AN-1792, was one of the most promising products in Elan's labs.
The deal is the latest in a string of purchases by big pharmaceutical companies of smaller companies with promising products.
"If they can launch the series of drugs they plan to launch, this may be a way out for Peter Dolan to rehabilitate his reputation," said Mr. Shah, the analyst, who said the company also had some other promising products.
But today, the Vaccine Initiative said, there are promising products in early development, although there is still no plan to get any to the most affected communities in the world.
Even with the hip implant recall, the company's medical device franchises remain strong, he said, and its pharmaceutical group has promising products like an antistroke drug and an experimental drug for prostate cancer in development.
Wall Street's marketing men are applying their skills to more promising products closer to home: while Asian stocks have halved in value since the beginning of 1995, American shares have more than doubled (see chart).
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He soon met Griffiths and Powles and the three founders settled on fashion as the most promising product group.
The most promising product categories, he said, are "those with extremely fragmented vendors, with a large variety of products and very high value-to-weight ratio".
In the poem, Company X is an archetypal start-up: it has a promising product but is about to run out of cash.
George Killingsworth thought he had discovered a promising product to supplement the earnings from his struggling sign-painting business -- award plaques made from sandblasted alder wood.
Pennington, a promising product of the club's academy who was unfortunate to be brought off at half-time, tangled with his captain, Phil Jagielka, trying to clear.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com