Johnson & Johnson buys 18% Elan stake

US healthcare giant Johnson & Johnson has acquired an 18.4% stake in Elan as part of an overall $1.5 billion (€1.07bn) investment.

The move effectively brings to a close the Irish pharmaceutical company’s six-month strategic review.

Elan has been seeking a tie-up with an international player to help fund the development of its pipeline of Alzheimer’s treatments and to de-risk its balance sheet, since the beginning of the year.