If an 'elixir' of immortality did come from this, I can pretty much guarantee you that it will most likely never reach any of our hands, if it even gets leaked.
Think about it, if something like this ever came about, the government would do everything in it's power to stop that kind of news from spreading. Moreover, if that kind of information WAS allowed to reach the worlds ears, a few things might happen:
1. Only the rich would be able to afford it, however it will probably be restricted.
2. The formula would be destroyed and possibly the child (to prevent further study, possible kidnapping of the child to pursue study, etc)
3. The country could be thrown into anarchy if the government chooses to restrict it.
4. A war - possibly civil or world - could erupt.
Those are some extreme cases, and that's only if something like stopping people to age and what have you occurs.
As to the child, I feel bad for the parents, having a baby for 16 years. I can only imagine how many times they've thought about putting it up for adoption. A horrible idea I know, but any of you that knows anything about babies, the first couple years before it starts maturing are bad enough, imagine that **** for 16 years? *shudders*