J&J to record $700-mn impairment charge related to abandoned drug program

J&J had recorded a partial impairment charge of about $630 million related to the treatment in the third quarter last year after having suspended trials in August.

Johnson & Johnson on Thursday said it will record a nearly $700 million impairment charge in the first quarter of 2019 related to the abandoned development of its experimental antiviral drug, AL-8176.

The company had recorded a partial impairment charge of about $630 million related to the treatment in the third quarter last year after having suspended trials in August.

J&J added AL-8176 to its pipeline through its $1.75 billion buyout of Alios Biopharma Inc in 2014.

The drug was being