Johnson & Johnson has announced a deal to acquire Momenta Pharmaceuticals Inc for $6.5 billion in cash. Momenta is a biotechnology company that focuses on developing novel therapies for auto-immune diseases.
This deal will give Janssen Pharmaceutical, which is owned by J&J, access to Momenta's nipocalimab, a clinically validated anti-FcRn antibody. The antibody is critical because it will speed along the development process for treatments of autoimmune-related diseases.
The $6.5B price tag represents a nearly 70% premium to what Momenta shares were trading at prior to the acquisition. The deal, which is expected to close in the second half of 2020, indicates significant optimism over the potential payoff of breakthrough autoimmune treatments.
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