Pfizer, J&J give up the ghost on Alzheimer's drug

Pfizer ($PFE) and Johnson & Johnson ($JNJ) have admitted defeat on intravenous bapineuzumab. The Alzheimer's drug hopeful, one of the most-watched drugs in both companies' pipelines, has now failed two Phase III trials. So, they're scrapping it. A subcutaneous version is still in mid-stage development, however. Report