J&J mops up $900M in waste, writing off the last big chunk of the $1.75B it spent to acquire Alios
Back in the fall of 2014, Alios looked like quite a find for J&J, with its lead RSV drug and some early stage hep C programs as a group of rivals fought over the blockbuster market that awaited the winner of that contest.
Now, more than 4 years after J&J plunked down $1.75 billion in cash to acquire little Alios, J&J is folding its hand and walking away from what proved a bad bet. After writing off $630 million for AL-8176 last year, the pharma giant has come back to to eliminate the remaining $900 million, with nothing to show for it.
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