Submitted by Fox First at Ten on October 16th
By The Associated Press
In a story Oct. 16 on Johnson & Johnson's third-quarter results, The Associated Press reported that J&J would take a $340 million charge for ending testing of the intravenous form of Alzheimer's disease drug bapineuzumab and said that J&J's partner, Pfizer Inc., would be taking a similar charge.
Pfizer has been jointly funding patient tests of the drug, but the charge actually will be taken by another company, Elan Corp. PLC. J&J acquired rights to the drug from Elan in 2009.
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