Momenta’s two-decade saga ends with a $6.5 billion buyout
Momenta Pharmaceuticals, which has pivoted multiple times since it was founded in 2001, has translated its recent clinical success into a $6.5 billion sale to Johnson & Johnson.
As STAT’s Adam Feuerstein reports, the deal adds up to $52.50 per share, a 73% premium to the company’s previous closing price. The centerpiece of the acquisition is nipocalimab, an antibody that blocks a molecule in the body called neonatal Fc receptor, which is overactive in certain autoimmune diseases.
The merger, expected to close later this year, is the latest twist in Momenta’s long corporate history. The company began with a focus on generic blood thinners before shifting its focus to cancer medicines and later rebranding as a biosimilars company. Nipocalimab’s promise didn’t become clear until 2019, when the company’s shares traded for around $12.
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As STAT’s Adam Feuerstein reports, the deal adds up to $52.50 per share, a 73% premium to the company’s previous closing price. The centerpiece of the acquisition is nipocalimab, an antibody that blocks a molecule in the body called neonatal Fc receptor, which is overactive in certain autoimmune diseases.
The merger, expected to close later this year, is the latest twist in Momenta’s long corporate history. The company began with a focus on generic blood thinners before shifting its focus to cancer medicines and later rebranding as a biosimilars company. Nipocalimab’s promise didn’t become clear until 2019, when the company’s shares traded for around $12.
Read more.
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