BAYER, J&J TO COLLABORATE ON THROMBOSIS DRUG

Bayer Healthcare, a unit of Bayer AG, has reported that it will develop and market a drug to treat blood clots with Johnson & Johnson (J&J) in a $290 million deal.

The drug is currently undergoing Phase II clinical trials. Bayer Healthcare said it would work on its development with J&J subsidiary Ortho-McNeil Pharmaceutical. Phase III clinical trials on the drug, BAY 59-7939, to test its effectiveness are set to begin in a few weeks.