Prognosis
J&J $6.5 Billion Momenta Pact Is Year’s Biggest Pharma Deal
- Drugmakers have sought out mergers even as coronavirus rages
- Pact follows Sanofi takeover of autoimmune-therapy maker
This article is for subscribers only.
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.