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Johnson & Johnson to buy Momenta Pharmaceuticals for $6.5 billion

The deal is the latest sign drug companies are looking for ways to bulk up even as the coronavirus pandemic upends other businesses

Johnson & Johnson
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J&J said in a statement that acquiring Momenta would bolster its Janssen Pharmaceutical unit’s leadership in immune-mediated diseases

Bloomberg
Johnson & Johnson agreed to pay $6.5 billion in cash to acquire Momenta Pharmaceuticals Inc., a maker of autoimmune-disease drugs, in the largest pharmaceutical-industry merger this year.
 
Though the price tag falls short of some of the industry-shifting takeovers of recent years, the deal is the latest sign drug companies are looking for ways to bulk up even as the coronavirus pandemic upends other businesses.
 
At $52.50 a share, the deal represents a premium of more than 70% to Momenta’s closing price Tuesday of $30.81. The biotechnology company had seen its shares surge 56% this year after encouraging clinical-trial data

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