Alzheimer's Drug to be Dropped After Failure During Test
{{#rendered}} {{/rendered}}File photo. (AP)
Alzheimer's drug fails during test.
Pfizer Inc. and Johnson & Johnson said Monday they are ending development of an intravenous formulation of a drug to treat Alzheimer's disease after the treatment failed in two late-stage clinical trials.
The companies said bapineuzumab intravenous did not work better than placebo in two late-stage trials in patients who had mild to moderate Alzheimer's disease.
{{#rendered}} {{/rendered}}The drug is designed to prevent the buildup of plaque in the brain. J&J said it is not discontinuing development of the compound and noted it has ongoing studies including a mid-stage neuroimaging study with bapineuzumab delivered subcutaneously.
Johnson & Johnson made a big bet on bapineuzumab in 2009, agreeing to invest up to $1.5 billion initially. The two companies said July 23 that the drug had failed in a different trial.
Johnson & Johnson, based in New Brunswick, N.J., said it will take a charge of $300 million to $400 million in the third quarter.
{{#rendered}} {{/rendered}}Dublin-based Elan Corp. PLC, which licensed the drug to Johnson & Johnson in 2009, said it will take a $117.3 million charge of its own.
U.S.-traded shares of Elan lost 10 percent, or $1.34, to $11.91 in after-hours trading. Shares of New York-based Pfizer lost 2.7 percent, or 66 cents, to $23.60. Johnson & Johnson stock edged down by 84 cents, or 1.2 percent, to $68.
Current treatments for Alzheimer's can only temporarily ease symptoms of the disease, which include increasing memory loss, confusion, wandering and aggression.
{{#rendered}} {{/rendered}}In the latest trial, bapineuzumab was tested on about 1,300 patients who lacked a gene that is associated with a greater risk of Alzheimer's. Last month the companies said the drug also didn't work on patients who do have that gene. Pfizer and Johnson & Johnson were running two other late-stage trials as part of a very large testing program for the drug.
Worldwide, about 35 million people already have dementia, of which Alzheimer's is the most common type. In the U.S., about 5 million have Alzheimer's. Finding a drug that could at least slow the disease has become a sort of Holy Grail in the pharmaceutical industry. A successful medicine would be guaranteed to generate billions in annual sales, given the world's aging population.
Based on reporting by the Associated Press.
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