Zacks Analyst Blog Highlights: Elan, Transition Therapeutics, Pfizer, Novartis AG, Johnson & Johnson and Forest Laboratories

For Immediate Release

Chicago, IL – August 17, 2010 – Zacks.com Analyst Blog features: Elan Corporation Plc. (ELN - Snapshot Report), Transition Therapeutics Inc. (TTHI - Snapshot Report), Pfizer Inc. (PFE - Analyst Report), Novartis AG (NVS - Snapshot Report) Johnson & Johnson (JNJ - Analyst Report) and Forest Laboratories, Inc. (FRX - Analyst Report).

Here are highlights from Monday’s Analyst Blog:

Elan to Move ELND005 to Phase III

Elan Corporation Plc. (ELN - Snapshot Report) and partner Transition Therapeutics Inc. (TTHI - Snapshot Report) recently announced their plans to move their Alzheimer’s disease pipeline candidate ELND005 into late stage trails. The companies also reported data from a mid-stage trial on ELND005. The companies presented positive safety and tolerability data on ELND005 taken twice-daily, for about 18 months. However, the trial’s cognitive and functional co-primary endpoints failed to achieve statistical significance.

The trial (AD201) initially enrolled 351 patients with mild-to-moderate Alzheimer’s disease at about 65 sites in the US. The study included four treatment arms: placebo, 250 mg BID, 1000 mg BID and 2000 mg BID. The 1000 mg BID and 2000 mg BID trials were discontinued in December last year due to serious adverse events, including mortality.

Based on these results, Elan and Transition Therapeutics plan to move ELND005 into phase III trials, the details of which are not currently available. We believe the companies will seek to enter into a partnership deal before commencing phase III studies. The signing of a lucrative deal would bring in additional funds, which would help finance the advanced stage development of the candidate.

Potential for ELND005

ELND005 received fast track designation from the US Food and Drug Administration (FDA) in 2007 for the treatment of Alzheimer's disease. According to the Alzheimer's Association and Alzheimer's Disease International, more than five million Americans have Alzheimer's disease while more than 26 million people worldwide suffer from some form of dementia.

The Alzheimer's disease market consists of players like Pfizer Inc. (PFE - Analyst Report), Novartis AG (NVS - Snapshot Report) , Johnson & Johnson (JNJ - Analyst Report) and Forest Laboratories, Inc. (FRX - Analyst Report).. It is estimated that the market is currently worth more than $5 billion.

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