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J&J, Pfizer to dump intravenous Alzheimer’s drug

NEW YORK (AP) — Pfizer Inc. and Johnson Johnson pronounced Monday they are finale growth of an intravenous plan of a drug to provide Alzheimer’s illness after a diagnosis unsuccessful in dual late-stage clinical trials.

The companies pronounced bapineuzumab intravenous did not work improved than remedy in dual late-stage trials in patients who had amiable to assuage Alzheimer’s disease.

The drug is designed to forestall a buildup of board in a brain. JJ pronounced it is not discontinuing growth of a devalue and remarkable it has ongoing studies including a mid-stage neuroimaging investigate with bapineuzumab delivered subcutaneously.

Johnson Johnson done a vast gamble on bapineuzumab in 2009, similar to deposit adult to $1.5 billion initially. The dual companies pronounced Jul 23 that a drug had unsuccessful in a opposite trial.

Johnson Johnson, formed in New Brunswick, N.J., pronounced it will take a assign of $300 million to $400 million in a third quarter.

Dublin-based Elan Corp. PLC, that protected a drug to Johnson Johnson in 2009, pronounced it will take a $117.3 million assign of a own.

U.S.-traded shares of Elan mislaid 10 percent, or $1.34, to $11.91 in after-hours trading. Shares of New York-based Pfizer mislaid 2.7 percent, or 66 cents, to $23.60. Johnson Johnson batch edged down by 84 cents, or 1.2 percent, to $68.

Current treatments for Alzheimer’s can usually temporarily palliate symptoms of a disease, that embody augmenting memory loss, confusion, erratic and aggression.

In a latest trial, bapineuzumab was tested on about 1,300 patients who lacked a gene that is compared with a larger risk of Alzheimer’s. Last month a companies pronounced a drug also didn’t work on patients who do have that gene. Pfizer and Johnson Johnson were using dual other late-stage trials as partial of a really vast contrast module for a drug.

Worldwide, about 35 million people already have dementia, of that Alzheimer’s is a many common type. In a U.S., about 5 million have Alzheimer’s. Finding a drug that could during slightest delayed a illness has turn a arrange of Holy Grail in a curative industry. A successful medicine would be guaranteed to beget billions in annual sales, given a world’s aging population.

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