NEW YORK (
Johnson & Johnson
is making headway in the development of a new, potentially lucrative anti-clotting drug, according to the
Wall Street Journal
The efforts are part of the consumer, medical devices and drug giant's plan for a much-needed boost to its maturing product lines.
The report says the emerging drug, rivaroxaban, which J&J is jointly-developing with Germany-based
, is one of a growing number of blood-thinning medicines in development that could eventually replace the widely-used, but less than perfect, warfarin thinner.
Common complaints regrding Warfarin include the need for those on the drug to visit the doctor every month for blood tests. The drug's anti-clotting capabilities can also be compromised by genetic differences, certain foods and certain drugs.
Rivaroxaban, for its part, is among an upcoming group of medicines in development that could result in a $20 billion a year global market by the end of the decade, according to
Results of a clinical trial, involving more than 14,000 patients, testing for the effectiveness of rivaroxaban compared with warfarin in preventing strokes in those with arrhythmic heart conditions known as atrial fibrillation, will be disclosed on Monday, the report said.
says J&J will aim to present the drug for FDA approval by year's end and hopes to begin selling it by late 2011.
Shares of J&J are down 0.4% to $63.67.
-- Written by Andrea Tse in New York.
>To contact the writer of this article, click here:
>To follow the writer on Twitter, go to
>To submit a news tip, send an email to:
Copyright 2010 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.