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Jul 06, 2009
 |  BC Week In Review  |  Company News  |  Deals

Elan, J&J deal

Johnson & Johnson will form a new company to acquire Elan's rights to an Alzheimer's disease immunotherapy program that is partnered with Wyeth (NYSE:WYE, Madison, N.J.). The program includes four products targeting beta amyloid: two formulations of bapineuzumab, second-generation mAb AAB-002 and the immunotherapeutic conjugates ACC-001 and ACC-002. Elan retains rights to its small molecule programs in AD and will own a 49.9% stake in the newco. The biotech will be entitled to 49.9% of the newco's profits, plus tiered royalties. J&J will make a $1 billion investment in Elan...

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