J&J ($JNJ) drops Arena ($ARNA) diabetes drug pact

Johnson & Johnson ($JNJ) has decided to end its deal for Arena Pharmaceuticals' ($ARNA) diabetes drug APD597 after seeing Phase I results. APD597 is a GPR119 agonist for type 2 diabetes, which, along with other compounds and intellectual property, will revert to Arena upon termination of the collaboration. Arena release