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Johnson & Johnson to acquire Ambrx Biopharma for $2 billion

EditorAhmed Abdulazez Abdulkadir
Published 01/08/2024, 01:35 PM
© Reuters.

NEW BRUNSWICK – Johnson & Johnson (NYSE:JNJ) has reached an agreement to acquire Ambrx Biopharma, a deal valued at $2 billion, equating to $28 per share. This acquisition price represents a notable premium over Ambrx's recent stock valuation, underscoring the pharmaceutical giant's investment in the future of targeted cancer treatments.

The move by Johnson & Johnson is a strategic step to bolster its portfolio in the oncology sector, particularly focusing on the promising technology of antibody-drug conjugates (ADCs) that Ambrx Biopharma specializes in. ADCs are an emerging class of therapeutics that combine the targeting capabilities of antibodies with the cancer-killing ability of cytotoxic drugs, offering a more precise approach to treating cancer.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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