Ortho-McNeil inks twin diabetes pacts totaling $1B

Johnson & Johnson subsidiary Ortho-McNeil-Janssen Pharmaceuticals has nailed down commercialization rights to Diamyd Medical's late-stage Type 1 diabetes vaccine. OMJ and Sweden's Diamyd will share development costs on the therapy, now in a late-stage trial, with the pharma company paying $45 million upfront and promising up to $580 million in milestones for the development deal. Once the initial round of Phase III data arrives in the first half of next year, OMJ has the right to take...