Johnson & Johnson’s Acquisition of Elan’s Alzheimer’s Program

On July 2, 2009, Johnson & Johnson announced a definitive agreement whereby it will acquire, through a newly formed company, substantially all the assets and rights of Elan Corporation, plc related to Elan’s Alzheimer’s Immunotherapy Program (“AIP Program”). In addition, Johnson & Johnson, through its affiliate, will invest $1 billion in Elan in exchange for newly issued American Depositary Receipts that will represent 18.4% of Elan’s outstanding ordinary shares. The AIP Program represents Elan’s interest in a collaboration with Wyeth to research, develop and commercialize selective products for the treatment and/or prevention of neurodegenerative conditions, including Alzheimer’s disease.

The lawyers involved in this matter include partner George E. Zobitz and associates Joseph D. Zavaglia, Brian M. Malbacho and Ksenia Kokareva on corporate matters and partner Eric W. Hilfers and associate Jarrett R. Hoffman on executive compensation and benefits matters. Summer associates Michael S. Darby and Brandon W. Fenn also worked on corporate matters.