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Johnson & Johnson Strikes $6.5 Billion Deal for Momenta

Johnson & Johnson will buy Momenta Pharmaceuticals for about $6.5 billion to bolster its portfolio of treatments for autoimmune diseases.

The deal gives J&J’s Janssen unit access to Momenta’s experimental therapy, nipocalimab, being tested for myasthenia gravis, a neuromuscular disease that causes weakness in muscles, and other diseases where the immune system attacks the body.

It hopes to get the drug approved to treat several conditions and eventually bring in blockbuster sales, as the company bulks up its pharmaceuticals unit, its largest business.

In a statement, J&J said, “Janssen will have the potential to introduce multiple launches, many as first-in-class indications with potential for significant peak year sales, some of which could exceed $1 billion.”

J&J is also one of the drugmakers racing to develop a vaccine for the coronavirus, has recently signed deals with the United States and Britain for future doses of the vaccine.

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