J&J Dumps Arena Diabetes Drug

11/4/10Follow @xconomy

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.

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  • Bill

    Luke…Me again.

    Your headline names J & J as Arena’s partner. The Arena PR names Ortho-McNeil-Janssen as the partner. What’s the relationship between them and J & J??? Or is there one?? Or am I missing it somewhere in the co PR??

    Bill

  • Bill

    Luke…Never mind. I see now that OMJ is a subsidiary of J & J.

  • Daniel

    Curious that the stock price rose on this information, was this release from obligation beneficial to Arena?