Elan Corp. shares, up $2.88 on Tuesday on optimistic earningsforecasts, gained another $1.63 to $48 on Wednesday after thecompany announced clinical trials of its Panoderm transdermaldrug delivery system.

The wristwatch-size device is intended to deliver three classesof drugs now administered only by injection. Elan is testinganti-coagulants, several peptide-based drugs, and anti-emeticsto prevent nausea and vomiting associated with chemotherapy.

The Athlone, Ireland, company (AMEX:ELN) also said it wasexpanding trials of its Panoject wearable intravenous deliverysystem, with a goal of filing for FDA marketing approval byyear-end.

(c) 1997 American Health Consultants. All rights reserved.