BioCentury
ARTICLE | Strategy

Bailing out Elan

July 6, 2009 7:00 AM UTC

With activist shareholders putting its board under pressure, Elan Corp. plc may have bought itself some time by landing Johnson & Johnson as both a partner and a $1 billion investor.

As announced last Thursday, J&J will form a new company to acquire Elan's rights to an Alzheimer's disease immunotherapy program (AIP) that is partnered with Wyeth. The program includes four products targeting beta amyloid: two formulations of bapineuzumab, the second-generation mAb AAB-002 and the immunotherapeutic conjugates ACC-001 and ACC-002...