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TRENTON, N.J. (AP) - Johnson & Johnson, making a big jump into the risky but potentially lucrative field of Alzheimer's disease, is taking a major stake in Irish biopharmaceutical company Elan Corp., investing up to $1.5 billion initially.
The two will cooperate to complete research on two injected drugs to stop progression of the mind-robbing disease and on a vaccine to prevent the buildup of plaque in the brain that causes increasing memory loss, confusion, wandering and aggression.
The deal, announced Thursday, sent Elan's U.S. shares up 60 cents, or 8.6 percent, to close at $7.60. J&J shares fell $1.09, or 1.9 percent, to $55.98.
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