Health care giant Johnson & Johnson said Wednesday that it is acquiring Momenta Pharmaceuticals, gaining access to a promising experimental treatment for autoimmune diseases.
Momenta is being acquired for $52.50 per share, or a 73% premium to Tuesday’s closing price. The all-cash deal values the company at $6.5 billion.
The centerpiece of the deal is a Momenta drug called nipocalimab, which works by blocking a molecule in the body called neonatal Fc receptor (FcRn). When activated, FcRn can trigger certain types of autoimmune diseases.
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