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Fri 07 Jul 2009Johnson & Johnson takes 18% stake in Elan
US PHARMACEUTICAL giant Johnson & Johnson (J&J) will take an 18.4 per cent stake in Irish biotech group Elan in return for a $1 billion investment. The deal, announced yesterday, will also see JJ acquire Elan’s assets and rights in an Alzheimer’s disease therapy programme being undertaken with Wyeth.
Johnson & Johnson will become the largest shareholder in Elan on conclusion of the deal.
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