NEW BRUNSWICK, New Jersey and DUBLIN, July 2 /PRNewswire/ --
- First-in-Class Alzheimer's Treatments Expand Existing JJ Neuroscience Pipeline
- Johnson Johnson Equity Investment Provides Financial Flexibility for Elan
Johnson Johnson (NYSE: JNJ) and Elan Corporation plc (NYSE: ELN) today announced a definitive agreement whereby Johnson Johnson will acquire substantially all of the assets and rights of Elan related to its Alzheimer's Immunotherapy Program (AIP Program), through a newly formed company. In addition, Johnson Johnson, through its affiliate, will invest $1 billion in Elan in exchange for newly issued American Depositary Receipts (ADRs) of Elan which will represent 18.4% of Elan's outstanding ordinary shares.