Johnson & Johnson to buy Momenta for about $6.5 billion

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Johnson & Johnson mentioned on Wednesday it might purchase Momenta Prescription drugs for about $6.5 billion in money to bolster its portfolio of remedies for autoimmune ailments.

Momenta shares had been up 68% at $51.98 earlier than the bell, simply shy of the provide worth of $52.20.

The deal offers Johnson & Johnson’s Janssen unit entry to Momenta’s experimental remedy, nipocalimab, being examined for myasthenia gravis, a neuromuscular illness that causes weak spot in muscular tissues.

“Nipocalimab offers Janssen the chance to succeed in considerably extra sufferers by pursuing indications throughout many autoimmune ailments,” Johnson & Johnson mentioned in a press release.

The drug is being developed to deal with ailments the place the physique’s personal antibodies assault or injury proteins and cells.

J&J reiterated its 2020 adjusted earnings per share forecast and mentioned it anticipated the deal to shut within the second half of 2020.

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