J&J’s $21 billion acquisition of medical device maker Synthes—its biggest acquisition ever—overshadowed a second big piece of news for the New Brunswick, NJ-based company. The FDA approved abiraterone acetate (Zytiga) for the treatment of men with metastatic castration-resistant prostate cancer who have received prior chemotherapy, according to a press release. The drug inhibits an enzyme that stimulates androgen production, offering a new approach to fighting the disease, and the FDA approved it earlier than expected. Analysts predict the product will bring in sales of $1 billion a year.
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