Pharmacia, Janssen End U.S. Marketing Pact for Vestra
Pharmacia
(PHA)
and
Janssen Pharmaceutica
, a unit of
Johnson & Johnson
(JNJ) - Get Johnson & Johnson Report
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, terminated their U.S. co-promotion agreement for the antidepressant drug Vestra.
The brief statement didn't provide any reasons, but said Pharmacia is working with the
Food and Drug Administration
to finalize approval of Vestra for treating depression. The Peapack, N.J., company, which currently markets the product in 18 countries under various trade names, is also conducting an additional clinical study to support the FDA application.
Shares of Pharmacia recently fell $1.25, or 2.1%, to $58.38, while shares of Johnson & Johnson were down $1.13, or 1.2%, to $96.63 in
New York Stock Exchange
trading.
