Johnson & Johnson
(NYSE:JNJ) and Pfizer Inc.(NYSE:PFE) declared on Monday that they are putting
an end to the development of bapineuzumab, a drug that was once considered
capable of treating Alzheimer’s disease. This comes after the treatment failed
in two-phase clinical trials.
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Both the companies had
hoped that the drug would help in slowing the process of physical and mental
dementia in people who have Alzheimer’s, but it did not seem to work better
than a placebo in the two-stage medical trials in patients, who were diagnosed
with mild to moderate Alzheimer’s disease.
Johnson & Johnson had agreed to invest a lofty amount of $1.5
billion in the initial stage.
Bapineuzumab is
designed to prevent the plaque formation in brain. Other treatments for
Alheimer’s are only capable of easing the symptoms of the disease temporarily.
This includes loss of memory, wandering, aggression and confusion.
On july 23rd,
both the companies had said that the drug had failed in a different
examination. All the simultaneous studies are now being discontinued. Johnson
& Johnson said it will take control of $300 million to $400 million in the
third quarter. Elan Corp., based in Dublin that had licensed the drug to Johnson
& Johnson will take charge of $117.3 million.
In the most recent
trial, bapineuzumab was tested on about 1300 Alzheimer’s patients, who did not
have a gene that is linked with a risk of the disease. The companies had
realized last month that the drug is also not working on people, who have that
gene.
Globally, around 35
million people are suffering from dementia. Alzheimer’s is the most common
type. About 5 million people in the US have Alzheimer’s. Finding a drug that is
capable of controlling this disease would set up a milestone in the medical
history. Such a drug is believed to be able to generate billions of dollars in
annual sales.
Shares of PFE slid
1.70% to $23.85 and JNJ fell 0.71% to $68.35.
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