Johnson and Johnson signs deal with Elan Corporation
Posted on 03/07/2009 in Medical Company Restructures
Johnson & Johnson has noted a deal with Elan Corporation is vital to helping it develop treatments for "devastating" illnesses.
The former company will acquire all the assets and rights to the latter firm's Alzheimer's Immunotherapy programme (AIP) after a definitive agreement was signed.
Sheri McCoy is the worldwide chairman of Johnson & Johnson's pharmaceutical division and noted there is an unmet need for patients with the medical condition and aging populations worldwide.
"[Our] development capabilities, commercial experience and global reach will provide the foundation to accelerate the AIP programme development and increase its potential availability for patients globally," she said.
Dr Husseini Manji from the business' pharmaceutical research and development team added the deal will be crucial in the company's efforts to find a way of preventing the disease.
He said the firm expects to focus its resources on the initiative as quickly as possible.
Earlier this week, Johnson & Johnson announced Dr Axel Ullrich had won the 2009 Dr Paul Janssen Award for Biomedical Research.
