Johnson & Johnson is scrapping its investigational therapy for respiratory syncytial virus (RSV) and human metapneumovirus to the tune of a $900 million tax write-off.
The company acquired the compound AL-8176 when it purchased Alios BioPharma for $1.7 billion in 2014. According to BioSpace.com, AL-8176 was the primary reason Johnson & Johnson acquired Alios. From BioSpace:
J&J said in its filing to the US Securities and Exchange Commission that additional information became available that lead the company to opt to abandon development of AL-8176, an orally administered antiviral therapy. J&J did not disclose in the filing what additional information became available.