Six months after announcing it was looking at strategic alternatives, Elan's beleaguered management has found a way to address its challenges: It announced July 2 that it is selling its Alzheimer's immunotherapy program (AIP), which includes the high-profile Alzheimer's disease drug bapineuzumab and all related assets, to Johnson & Johnson for what essentially amounts to $500 million in the near-term and a commitment from J&J to buy an 18.4 percent stake in Elan for $1 billion

Wyeth's Alzheimer's drug bapineuzumab won an additional eight months of patent coverage under a federal court ruling that found the U.S. Patent and Trademark Office had misinterpreted a law governing agency delays in processing patent applications

Newly released Medicare Part D data sheds light on the sales hit that branded pharmaceutical manufacturers will face when the coverage gap discount program gets under way in 2011