San Francisco Bay Area biotech stories.
Wednesday, October 24, 2012
Alzheimer's drug failure translates into more job cuts in South San Francisco
Add about 130 jobs at Johnson & Johnson -- most of them in South San Francisco -- to the cuts following the failure of the experimental Alzheimer's disease drug bapineuzumab
The move by the New Brunswick, N.J.-based drug giant (NYSE: JNJ) and its Janssen Alzheimer Immunotherapy Research & Development LLC unit comes as no surprise after the July and August announcements that bapineuzumab failed a handful of Phase III trials. Still, the decision adds to the South San Francisco workforce woes surrounding the drug.
Elan Corp., which originally developed the drug with Wyeth Pharmaceuticals, has said in regulatory filings that
it will close its roughly 400-person South San Francisco drug discovery operations
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