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A security guard walks past cars in a Geely Automobile Holdings Ltd. factory in a Shanghai suburb September 28, 2006.REUTERS/Aly Song

China in auto power play

It might not shake up the industry just yet, but China's interest in Volvo and Saab is the start of something big in global autos, writes columnist Wei Gu.  Commentary 

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J&J buys $1 billion stake in Elan

LONDON
Thu Jul 2, 2009 8:12am EDT

LONDON (Reuters) - ELAN on Thursday announced Johnson & Johnson would acquire most assets and rights related to its Alzheimer's immunotherapy program.

Deals

* Johnson & Johnson will initially commit up to $500 million to develop and launch activities of bapineuzumab

* J&J will invest $1 billion in Elan in exchange for newly issued American depositary receipts (adrs)

* Johnson & Johnson investment will represent 18.4% of elan's outstanding ordinary shares

* J&J will continue elan's activities with Wyeth

* Elan will receive a 49.9% equity interest in the newly formed Johnson & Johnson Company

* Transaction will have an estimated dilutive impact of $0.02 to $0.03 on

Johnson & Johnson 2009 adjusted EPS
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