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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 p
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SOURCE Johnson & Johnson
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