LOS ANGELES, Aug 26 (Reuters) - Units of Johnson & Johnson have decided not to pursue further development of a
four-week long-acting version of antipsychotic drug
risperidone, Alkermes Inc said in a regulatory filing
on Wednesday.
The news sent shares of Alkermes, which collects revenue for manufacturing a version of the injectable drug which lasts for two weeks, down nearly 12 percent in after-hours trading.
Alkermes said the two-week version, known commercially as Risperdal Consta, continues to be marketed in more than 60 countries as the only long-acting atypical antipsychotic therapy available for both the treatment of schizophrenia and bipolar I disorder.
The company's shares fell $1.22 to $9.15 in after-market trade.
(Reporting by Deena Beasley, editing by Matthew Lewis) Keywords: ALKERMES/ (deena.beasley@thomsonreuters.com; + 1 213-955-6746; Reuters Messaging: deena.beasley.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The news sent shares of Alkermes, which collects revenue for manufacturing a version of the injectable drug which lasts for two weeks, down nearly 12 percent in after-hours trading.
Alkermes said the two-week version, known commercially as Risperdal Consta, continues to be marketed in more than 60 countries as the only long-acting atypical antipsychotic therapy available for both the treatment of schizophrenia and bipolar I disorder.
The company's shares fell $1.22 to $9.15 in after-market trade.
(Reporting by Deena Beasley, editing by Matthew Lewis) Keywords: ALKERMES/ (deena.beasley@thomsonreuters.com; + 1 213-955-6746; Reuters Messaging: deena.beasley.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.