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News Summary: Pfizer, J&J Alzheimer's drug fails
286 days ago
By The Associated Press
THE RESULTS: Pfizer Inc. and Johnson & Johnson said their experimental Alzheimer's disease drug bapineuzumab failed in a second late-stage trial. The companies are ending development of the drug.
THE GOAL: Bapineuzumab was designed to slow the progression of Alzheimer's disease by preventing the buildup of plaque in the brain, but studies said it didn't work better than a placebo.
THE CHARGES: Johnson & Johnson said it will take a charge of up to $400 million in the third quarter. Elan Corp. PLC, which licensed the drug to Johnson & Johnson, will take a charge of $117.3 million.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
