J&J Dumps Arena Diabetes Drug
Luke Timmerman11/4/10
San Diego-based Arena Pharmaceuticals (NASDAQ: ARNA), the developer of treatments for obesity and diabetes, said today that Johnson & Johnson has terminated a partnership to co-develop a diabetes drug after reviewing results from a Phase I clinical trial. Full rights to the drug, APD597, will go back to Arena. The drug, an oral pill, is designed to stimulate a target called GPR119.
