Johnson & Johnson
The deal marks the end of a strategic review by Elan
J&J will initially commit up to $500 million to develop and commercialize Elan's experimental Alzheimer's treatment bapineuzumab and will continue Elan's existing activities with Wyeth
Wyeth is the process of being acquired by Pfizer
J&J said the transaction would dilute its adjusted earnings in 2009 by between 2 and 3 cents a share. Shares in Elan leapt 30 percent in Dublin.
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(Reporting by Ben Hirschler)