Johnson & Johnson to buy Momenta for about $6.5 billion

By Syndicated Content Aug 19, 2020 | 6:41 AM

(Reuters) – Johnson & Johnson said on Wednesday it would buy Momenta Pharmaceuticals Inc 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)

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