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Big Law

Johnson & Johnson Acquires Momenta Pharmaceuticals for $6.5B in Cash

Johnson & Johnson (NYSE:JNJ) just took a big step into the field of immunology with a $6.5 billion deal for Momenta Pharmaceuticals (NASDAQ:MNTA). On Tuesday, the giant healthcare conglomerate announced a definitive agreement to acquire the biotech for $52.50 per share. That works out to a whopping 70% premium over the Momenta’s closing price Monday.

One of the key assets that inspired such a generous offer is nipocalimab, a potential first-in-class antibody that targets the neonatal Fc receptor, FcRn. But geography and talent were also major factors. The healthcare conglomerate is eager to expand its presence in Cambridge, Massachusetts, the world’s leading hub for biopharmaceutical innovation and the location of Momenta’s headquarters.

Read the source article at Fool.com

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