Johnson & Johnson Completes $6.5B Pharma Acquisition Deal

October 07, 2020 - Johnson & Johnson recently announced the completion of a $6.5 billion pharmaceutical acquisition deal involving biotechnology company Momenta Pharmaceuticals, Inc. 

This announcement comes a month after Johnson & Johnson announced it signed the pharmaceutical acquisition deal with Momenta to broaden its expertise in immune-mediated diseases and drive further growth through expansion into auto antibody-driven disease.

Momenta focused on identifying and developing novel biologic therapeutics to treat rare immune-mediated diseases.

The transaction will give Johnson & Johnson full global rights to nipocalimab (M281), a clinically validated, potentially best-in-class anti-FcRn antibody.

“We’re delighted to begin our work together to further advance patient care in autoantibody-driven diseases,” Jennifer Taubert, executive vice president and worldwide chairman of pharmaceuticals at Johnson & Johnson, said in the announcement. “We anticipate multiple launches, many of which would be first-in-class indications in rare diseases and areas of significant unmet need.”

The cash tender offer by Vigor Sub, Inc., a wholly-owned subsidiary of Johnson & Johnson, for all outstanding shared of Momenta common stock for $52.50 expired by October 1, 2020.

The depositary and paying agent for the tender offer American Stock and Transfer & Trust Company LLC advised Johnson & Johnson that over 100 million shares of Momenta’s common stock were tendered and not validly withdrawn in the tender offer.

The shares represented approximately 79.4 percent of the outstanding shares of Momenta’s common stock on a fully diluted basis.

“All of the conditions to the tender offer have been satisfied, and on October 1, 2020, Vigor Sub, Inc. ("Vigor"), a wholly-owned subsidiary of Johnson & Johnson, accepted for payment, and will as promptly as practicable pay for, all shares validly tendered and not properly withdrawn in the tender offer,” a Johnson & Johnson spokesperson said in the announcement. 

Bristol Myers Squibb to Acquire MyoKardia for $13.1B 

Bristol Myers Squibb and MyoKardia Inc. recently signed a definitive merger agreement under which Bristol Myers Squibb will acquire the clinical-stage biopharmaceutical company $13.1 billion, or $225 per share in cash.

The transaction was approved by both the Bristol Myers Squibb and MyoKardia board of directors, according to the announcement from Bristol Myers Squibb. The expected closing date is sometime in the fourth quarter of 2020.

“The acquisition of MyoKardia further strengthens our portfolio, pipeline and scientific capabilities, and is expected to add a meaningful medium- and long-term growth driver,” Giovanni Caforio, MD, board chair and chief executive officer of Bristol Myers Squibb, said in the announcement. 

“We are further strengthening our outstanding cardiovascular franchise through the addition of mavacamten, a promising medicine with the potential to address a significant unmet medical need in patients with cardiovascular disease.” 

Through the acquisition, Bristol Myers Squibb will own mavacamten, a potential first-in-class cardiovascular medicine for the treatment of obstructive hypertrophic cardiomyopathy. 

The company expects to submit a New Drug Application to FDA for mavacamten in the first quarter of 2021. 

“Together, our complementary strengths and expanded resources and reach will further accelerate the pace at which we can discover, develop and commercialize our novel medicines for the benefit of people suffering from cardiovascular disease around the world,” said Tassos Gianakakos, CEO of MyoKardia. 

Sanofi completes acquisition of Principia Biopharma Inc. for $100 Per Share

Sanofi recently announced the completion of its pharmaceutical acquisition deal with Principia Biopharma.

Principia will continue as the surviving corporation and become an indirect, wholly-owned subsidiary of Sanofi, the announcement stated. 

This announcement comes over a month after Sanofi announced it would acquire the biopharmaceutical company to focus on developing treatments for immune-mediated diseases. 

Under the agreement, Sanofi will leverage Principia’s Bruton tyrosine kinase (BTK) inhibitors to accelerate and build a portfolio of next-generation treatments for autoimmune diseases.

“The Principia acquisition further strengthens our core areas of autoimmune and allergic diseases, giving us full control of tolebrutinib (SAR442168),” Paul Hudson, CEO of Sanofi, said in the recent announcement. 

“The Principia integration into Sanofi augments our small molecule research capabilities as we look to maintain leadership in the discovery and development of oral medicines for serious illnesses.”