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R.J. Reynolds spins off Targacept pharmaceutical unit 

R.J. Reynolds Tobacco Co., the No. 2 U.S. cigarette maker, on Thursday said it has spun off its Targacept Inc. subsidiary, which develops nicotine-related pharmaceuticals, into a privately held company. . .

Targacept will still design and develop compounds that can interact with certain receptors in the human nervous system to treat major disorders, R.J. Reynolds said. Those disorders include Alzheimer's disease, Parkinson's disease, depression, pain and ulcerative colitis, Tourette's Syndrome, attention deficit disorder and schizophrenia.

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