Navigation Links
Johnson & Johnson and Elan Corporation plc Announce Closing of Transaction Related to Alzheimer's Immunotherapy Program and Equity Investment
Date:9/17/2009

NEW BRUNSWICK, N.J. and DUBLIN, Sept. 17 /PRNewswire-FirstCall/ -- Johnson & Johnson (NYSE: JNJ) and Elan Corporation plc (NYSE: ELN) today announced that JANSSEN Alzheimer Immunotherapy, a newly formed subsidiary of Johnson & Johnson, has completed the acquisition of substantially all of the assets and rights of Elan related to its Alzheimer's Immunotherapy Program (AIP). In addition, Johnson & Johnson, through its affiliate, Janssen Pharmaceutical, has invested $885 million in exchange for newly issued American Depositary Receipts (ADRs) of Elan, representing 18.4% of Elan's outstanding ordinary shares.

The AIP represented Elan's interest in a collaboration with Wyeth Pharmaceuticals to research, develop and commercialize selective products for the treatment and/or prevention of neurodegenerative conditions, including Alzheimer's Disease.

JANSSEN Alzheimer Immunotherapy will now assume Elan's activities with Wyeth under the AIP and continue development activities for bapineuzumab, a potential first-in-class treatment being evaluated for slowing the progression of Alzheimer's Disease.

The AIP includes multiple compounds being evaluated for slowing the progression of Alzheimer's Disease. The lead compound (bapineuzumab), administered intravenously once every three months, is currently in Phase 3 clinical trials. A subcutaneous formulation, administered once a week, is currently in Phase 2 trials. In addition, a vaccine for Alzheimer's Disease (ACC-001) is also in Phase 2 trials.

About JANSSEN Alzheimer Immunotherapy

JANSSEN Alzheimer Immunotherapy is researching, developing and commercializing selective products for the treatment and/or prevention of Alzheimer's Disease. This includes bapineuzumab, a potential first-in-class treatment that is being evaluated for slowing the progression of Alzheimer's Disease. JANSSEN Alzheimer Immunotherapy will strive to provide innovative, high quality, safe and effective treatments and continually seek new opportunities to offer solutions for unmet health care needs. JANSSEN Alzheimer Immunotherapy is based in Dublin and has R&D facilities in South San Francisco.

JANSSEN Alzheimer Immunotherapy is a subsidiary of Johnson & Johnson.

About Johnson & Johnson

Caring for the world, one person at a time. . ..inspires and unites the people of Johnson & Johnson. We embrace research and science - bringing innovative ideas, products and services to advance the health and well-being of people. Our approximately 119,000 employees at more than 250 Johnson & Johnson companies work with partners in health care to touch the lives of over a billion people every day, throughout the world.

About Elan

Elan Corporation, plc is a neuroscience-based biotechnology company committed to

making a difference in the lives of patients and their families by bringing innovations in

science to fill significant unmet medical needs. Elan shares trade on the New York

and Dublin Stock Exchanges. For additional information about the company, please visit http://www.elan.com.

(This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from Johnson & Johnson's and Elan Corporation, plc's expectations and projections. Risks and uncertainties include general industry conditions and competition; business and economic conditions, such as interest rate and currency exchange rate fluctuations; technological advances and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approvals; domestic and foreign healthcare reforms and government laws and regulations; and trends toward healthcare cost containment. A further list and description of these risks, uncertainties and other factors can be found in Exhibit 99 of Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 28, 2008, and Elan Corporation, plc's Annual Report on Form 20-F for the fiscal year ended December 31, 2008, as well as other subsequent filings. Copies of these filings, as well as subsequent filings, are available online at www.sec.gov, www.jnj.com, www.elan.com, or on request from Johnson & Johnson or Elan Corporation,plc. Neither Johnson & Johnson nor Elan Corporation, plc undertakes to update any forward-looking statements as a result of new information or future events or developments.)


'/>"/>
SOURCE Johnson & Johnson
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. DynaVox Mayer-Johnson Receives Microsoft Award
2. Johnson & Johnson to Participate in Morgan Stanley Global Healthcare Unplugged Conference
3. TrueFACS Announces the Addition of Nora Johnson and Pat Palmer of Medical Billing Advocates of America
4. Johnson City Medical Center Saves $550,000 with Smart Square(R)
5. EF Johnson Technologies, Inc. Highlights New Products at APCO 2009
6. Dwayne Johnson, Novo Nordisk and the Entertainment Industry Foundation Educate Families about Healthy Living and Diabetes
7. DynaVox Mayer-Johnson Announces the Xpress
8. AADE, Emory University and Johnson & Johnson Diabetes Institute Partner to Educate and Improve Access to Care for Atlanta-area Minorities with Diabetes
9. Earvin Magic Johnson and the Magic Johnson Foundation Give Students their Blueprint for Success at Annual Leadership Conference
10. Johnson & Johnson to Host Analyst Conference Call on Second-Quarter Results
11. Johnson & Johnson and Elan Corporation plc Announce Definitive Agreement for Alzheimers Immunotherapy Program and Equity Investment
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/25/2016)... ... ... Austin residents seeking Mohs surgery services, can now turn to Dr. Jessica Scruggs ... for medical and surgical dermatology. , Dr. Dorsey brings specialization to include Mohs surgery, ... Micrographic Surgery completed by Dr. Dorsey was under the direction of Glenn Goldstein, MD, ...
(Date:6/25/2016)... ... 25, 2016 , ... As a lifelong Southern Californian, Dr. Omkar Marathe earned ... the David Geffen School of Medicine at UCLA. He trained in Internal Medicine at ... fellowship in hematology/oncology at the UCLA-Olive View-Cedars Sinai program where he had the opportunity ...
(Date:6/24/2016)... ... ... A recent article published June 14 on E Online details ... to state that individuals are now more comfortable seeking to undergo not only the ... and cheek reduction. The Los Angeles area medical group, Beverly Hills Physicians (BHP) notes ...
(Date:6/24/2016)... ... June 24, 2016 , ... ... Sessions in Dallas that it will receive two significant new grants to support ... as PHA marked its 25th anniversary by recognizing patients, medical professionals and scientists ...
(Date:6/24/2016)... ... ... Inc, makers of Topricin and MyPainAway Pain Relief Products, join The ‘Business for a Fair ... hour by 2020 and then adjusting it yearly to increase at the same rate as ... the wage floor does not erode again, and make future increases more predictable. , The ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... and SAN CLEMENTE, Calif. , June ... -based mobile pulmonary function testing company, is now able to ... devices developed by ndd Medical Technologies , Inc. ... done in hospital-based labs.  Thanks to ndd,s EasyOne PRO ® , ... , can get any needed testing done in the comfort of ...
(Date:6/24/2016)... India , June 24, 2016 ... Needles Market by Type (Standard Pen Needles, Safety Pen ... Therapy (Insulin, GLP-1, Growth Hormone), Mode of Purchase (Retail, ... by MarketsandMarkets, This report studies the market for the ... expected to reach USD 2.81 Billion by 2021 from ...
(Date:6/24/2016)... NAMUR , Belgium , ...  (NYSE MKT: VNRX), today announced the appointment of ... Board of Directors as a Non-Executive Director, effective ... the Company,s Audit, Compensation and Nominations and Governance ... Board, Dr. Futcher will provide independent expertise and ...
Breaking Medicine Technology: