Johnson & Johnson announced last week that it will abandon efforts to bring to market a rival drug to Allergan's popular anti-wrinkle treatment, Botox.

Instead, J&J will focus on its core breast surgery business, aided by its 2009 purchase of Mentor, a leading maker of breast implants for cosmetic and reconstructive surgery. This aquisition also gave J&J PurTox, the Botox rival that the company is halting.

J&J also mentioned that ending the PurTox development program will result in a small amount of U.S. layoffs.

Read the Reuters release