J&J, Pfizer Halt Development of Alzheimer's Drug

Health and Healthcare

Published: August 6, 2012 5:44 pm

Last Updated: April 28, 2020 12:15 am

Johnson & Johnson Inc. (NYSE: JNJ) and Pfizer Inc. (NYSE: PFE) both announced they are stopping development of a drug to treat patients with mild to moderate Alzheimer’s after the drug failed a second clinical trial.

The companies both noted the drug, bapineuzumab, did not improve the condition of Alzheimer’s patients compared to a placebo.

Johnson & Johnson will take a $300 million to $400 million charge in the third quarter.

Shares of Pfizer are down 2.51% in after-hours trading. Shares of Johnson & Johnson are up 0.21%.

Samuel Weigley

Take This Retirement Quiz To Get Matched With An Advisor Now ^(Sponsored)

Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.

Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.

Click here now to get started.