J&J to Acquire Momenta Pharmaceuticals for $6.5 billion

Johnson & Johnson (J&J) announced on August 19, 2020 that it has entered into a definitive agreement to acquire Momenta Pharmaceuticals, a biotechnology company based in Cambridge, MA, for $6.5 billion.

According to a J&J press release, the deal is expected to close during the second half of 2020. Until then, Momenta will operate as a separate and independent company.

"The agreement with J&J recognizes the value created by years of commitment and dedication to our mission by the many current and past Momenta employees. Programs such as nipocalimab have the potential to improve the lives of countless patients suffering from autoimmune and fetal maternal diseases,” said Craig Wheeler, president and CEO of Momenta, in the press release. “This acquisition provides strong value for our shareholders and ensures a level of investment in our exciting portfolio that will further enhance its potential for patients. I believe J&J is the right company to advance our portfolio of novel drug candidates for autoimmune and rare diseases. J&J’s leadership in immunology, extensive capabilities, and global reach, as well as its alignment with our vision of pioneering therapies for complex diseases is a strong fit for our company and our portfolio.”

Source: J&J