Johnson & Johnson to buy Momenta for about $6.5 billion

FAN Editor 4 years ago
FILE PHOTO: The company logo for Johnson & Johnson is displayed on a screen to celebrate the 75th anniversary of the company's listing at the NYSE in New York
FILE PHOTO: The company logo for Johnson & Johnson is displayed on a screen to celebrate the 75th anniversary of the company’s listing at the New York Stock Exchange (NYSE) in New York, U.S., September 17, 2019. REUTERS/Brendan McDermid/File Photo

August 19, 2020

(Reuters) – Johnson & Johnson <JNJ.N> said on Wednesday it would buy Momenta Pharmaceuticals Inc <MNTA.O> for about $6.5 billion in cash to expand into the area of autoimmune disease treatments.

J&J will pay $52.50 for each Momenta share, a 70.4% premium to Tuesday’s closing price.

(Reporting by Manas Mishra in Bengaluru; Editing by Anil D’Silva)

Free America Network Articles

Leave a Reply

Next Post

EU leaders seek to ramp up pressure on Belarus president

Wed Aug 19 , 2020
BRUSSELS — European Union leaders put on a show of support Wednesday for people protesting in Belarus. At an emergency teleconference they underlined their concern about the contested presidential election and ratchet up pressure on officials linked to the security crackdown that followed. The EU believes that the results of […]

You May Like