Pharmaceuticals

Elan may benefit from new drug bid

Monday, 29 October 2007 16:55

US drug maker Johnson & Johnson has applied to US authorities for approval for a new treatment for schizophrenia.

The treatment, called paliperidone palmitate, uses technology developed by Irish pharmaceutical company Elan. The technology makes the drug easier to administer.

Johnson & Johnson's research and development arm has submitted the new drug application to the US Food & Drug Administration.

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Elan will receive royalty payments based on sales of the treatment, if it is successfully brought to the market.

Shares in Elan closed up 19 cent at €16.25 in Dublin.
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Elan In line for royalties
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In line for royalties
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