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Monday, January 12, 2015

J&J strikes Alzheimer's deal with AC Immune worth up to $509 mln, (NYSE: JNJ)

Johnson & Johnson boosted its research efforts in Alzheimer's on Monday by striking a deal potentially worth up to $509 million with unlisted Swiss biotech firm AC Immune to develop so-called anti-tau vaccines.Tau is a protein known for forming tangles inside brain cells and is linked to cell death. It is one of two abnormal proteins tied to the memory-robbing disease. The other is beta amyloid.The Swiss company already has another major tie-up with Roche for a beta amyloid-fighting drug called crenezumab.The hope is that therapeutic vaccines targeting tau will offer a way to treat Alzheimer's patients earlier in the disease.

Johnson & Johnson is a holding company engaged in the research and development, manufacture and sale of a broad range of products in the health care field. Shares of JNJ fell by 1.36% or $-1.45/share to $104.94. In the past year, the shares have traded as low as $86.09 and as high as $109.49. On average, 8268920 shares of JNJ exchange hands on a given day and today's volume is recorded at 7364760.