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Johnson & Johnson buys Momenta for 5.446 million, which shoots up 70%

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The American Laboratory Johnson & Johnson has reached an agreement for the purchase of the biotechnology company for 6,500 million dollars (5,446 million euros) in cash Momenta Pharmaceuticals, a specialist in the research of treatments for autoimmune diseases, as reported by both companies, which expect to complete the transaction in the second half of 2020. Momenta has skyrocketed nearly 70% on Wall Street.

The agreement has the unanimous support of the boards of directors of the two companies. Under the terms of the same Johnson & Johnson will pay $ 52.50 in cash for each Momenta security, which represents a premium of 70.4% compared to yesterday's closing price of the company's shares.

The closing of the transaction is subject both to a majority of Momenta's outstanding shares adhering to the offer, and to its authorization in accordance with the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions. .

Once the transaction is completed, something both companies are confident will take place throughout the second half of 2020, Momenta's shares will no longer be listed on the Nasdaq.

"The agreement with J&J recognizes the value created by years of commitment and dedication," he said. Craig Wheeler, president and CEO of Momenta, for whom this operation provides great value for shareholders and ensures a level of investment in Momenta that will further enhance its potential for the development of new drugs.

"This acquisition extends Janssen's leadership in autoimmune diseases and provides us with an important catalyst for sustained growth." Jennifer Taubert, executive vice president and worldwide president of pharmaceuticals for Johnson & Johnson.

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