Ahead Of The Bell: Alkermes And J&J

NEW YORK (AP) — Alkermes Inc. says its partner Johnson & Johnson is ending development of a once-per-month anti-psychotic injection after getting similar products approved.

Alkermes said Johnson & Johnson decided not to pursue the once-monthly version of risperidone, which is the primary ingredient in Risperdal and related drugs. The companies worked together on a twice-per-month injection called Risperdal Consta, and had been collaborating on the four-week version since May 2008.

The news was disclosed in a filing with the Securities and Exchange Commission Wednesday.

Johnson & Johnson, of New Brunswick, N.J., was developing two monthlong anti-psychotic drugs at the same time: Risperdal Consta and Invega. The Food and Drug Administration approved the long-lasting Invega, called Invega Sustenna, on July 31. It also approved the use of extended-release Invega tablets for schizoaffective disorder.

The biweekly Risperdal Consta is approved as a treatment for schizophrenia and bipolar disorder.

Alkermes, which is based in Cambridge, Mass., was working on the drug with Johnson & Johnson's Ortho-McNeil-Janssen Pharmaceuticals, Inc. and Janssen Pharmaceutica International units. Both versions of Risperdal Consta use Alkermes technology to make the drugs last longer. Alkermes is paid for manufacturing the product and gets royalties on sales.