Johnson & Johnson invest in Irish drug maker’s Alzheimer’s disease program
NEW BRUNSWICK, N.J. A U.S. drug maker plans to acquire an Irish drug maker’s Alzheimer’s disease program.
Johnson & Johnson announced that it would acquire “substantially all” of the assets related to Elan Corp.’s Alzheimer’s Immunotherapy Program through a newly formed company while also investing $1 billion in Elan in exchange for 18.4% of the Dublin, Ireland-based company’s ordinary shares.
The AIP Program is Elan’s part of a collaboration with Wyeth to research, develop and commercialize products for neurodegenerative conditions such as Alzheimer’s, which affects up to 5.3 million people in the United States.
