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Johnson & Johnson Buying Momenta Pharmaceuticals for $6.5 Billion

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This morning, Johnson & Johnson agreed to buy Momenta Pharmaceuticals for $6.5 billion in cash. The deal will likely expand Janssen Pharmaceuticals's leadership in autoimmune disease treatments. Under the terms of the agreement, Johnson & Johnson will pay $52.50 for each Momenta Pharmaceuticals share outstanding, which represents a 70.4 percent premium to Momenta’s last closing price of $30.81. The deal will likely close in the second half of this year.

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According to a CNBC report, “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.”

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What is Johnson & Johnson's stock price today?

Johnson & Johnson stock was up about 0.3 percent at $150.48 in pre-market trading today. The stock rose 0.7 percent on Tuesday and closed at $150.09 with a market capitalization of $395.2 billion. Johnson & Johnson stock has risen by 0.6 percent in the last five days. The stock has risen by 13.8 percent in the last year.

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Johnson & Johnson stock is trading 4.2 percent below its 52-week high of $157.00 and 37.9 percent above its 52-week low of $109.16. Year-to-date, the stock had risen by 3.2 percent as of Tuesday.

Johnson & Johnson said that nearly 2.5 percent of the worldwide population has some sort of autoantibody-driven rare disease. The company’s drug Stelara treats psoriatic arthritis, which is an autoimmune disease. Johnson & Johnson is also manufacturing a drug to treat the COVD-19 pandemic.

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What is Momenta Pharma?

Momenta Pharmaceuticals is a biotechnology company. The company focuses on developing treatments for rare immune-mediated diseases like myasthenia gravis, warm autoimmune hemolytic anemia, and fetus and newborn hemolytic diseases. Momenta’s lead asset, nipocalimab, is being developed to cure diseases where a body’s own antibodies destroy proteins and cells.

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What is Momenta Pharmaceuticals's stock price now?

Momenta Pharmaceuticals stock was up about 69.2 percent at $52.13 in pre-market trading today. The stock rose 5.1 percent on Tuesday and closed at $30.81 with a market capitalization of $3.7 billion. Year-to-date, the stock had risen by 56.2 percent as of Tuesday.

Momenta Pharmaceuticals stock has risen by 80.9 percent in the last five days. The stock has risen by 318.3 percent in the last year. The stock is trading 0.3 percent below its 52-week high of $52.15 and 336.6 percent above its 52-week low of $11.91.

On Monday, France’s Sanofi agreed to buy Principia Biopharma for its autoimmune disease treatments. The deal was valued at $3.7 billion.

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