San Diego biotech to work with J&J unit on diabetes drugs

12/23/2004 | San Diego Union-Tribune

Arena Pharmaceuticals said it and Johnson & Johnson's Ortho-McNeil Pharmaceutical division will collaborate on type 2 diabetes drugs, based on Arena's compounds still in the early lab testing phase. The $17.5 million Ortho-McNeil is to pay up front is considered a high price for an experimental compound, and that payment is to be followed by another $4.8 million in research funds over a two-year period.

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