Janssen Research Foundation
, a unit of
Johnson & Johnson
, received approval from the
Food and Drug Administration
to market Reminyl, a drug for treating Alzheimer's disease.
Reminyl, which is derived from daffodil bulbs, can either delay or stabilize Alzheimer's symptoms. Janssen developed the drug under a co-development and licensing agreement with
The drug has already been approved in 21 other countries, including most major European markets. Janssen and
will jointly market Reminyl in the U.S.
During regular trading on the
New York Stock Exchange
, Johnson & Johnson, a component of the
Dow Jones Industrial Average
, gained $1.38, or 1.4%, to close at $97.33.