J&J And Elan Strike A Deal On Key Alzheimer's Disease Assets

Six months after announcing it was looking at strategic alternatives, Elan's beleaguered management has found a way to address its challenges: It announced July 2 that it is selling its Alzheimer's immunotherapy program (AIP), which includes the high-profile Alzheimer's disease drug bapineuzumab and all related assets, to Johnson & Johnson for what essentially amounts to $500 million in the near-term and a commitment from J&J to buy an 18.4 percent stake in Elan for $1 billion