J&J Closes $885M Alzheimer’s Drug Deal With Elan

Law360, New York (September 17, 2009, 2:38 PM EDT) -- Johnson & Johnson has completed an $885 million deal to own a stake in Elan Corp. and gain rights to the Irish biotechnology company’s Alzheimer’s disease treatment program, now that Elan has cured its breach of contract with Biogen Idec Inc. to make way for the new deal.

J&J and Elan said Thursday J&J’s newly formed unit, Janssen Alzheimer Immunotherapy, acquired most of the assets and rights to Elan’s Alzheimer’s Immunotherapy Program, and J&J subsidiary Janssen Pharmaceutical invested $885 million to obtain an 18.4 percent stake...
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