Johnson & Johnson to Acquire Proteologix, Inc. to Lead in Atopic Dermatitis Treatment for $850M Cash and Earnout Consideration
Portfolio Pulse from Benzinga Newsdesk
Johnson & Johnson (NYSE:JNJ) announced its acquisition of Proteologix, Inc. for $850 million in cash, with potential milestone payments. Proteologix specializes in bispecific antibodies for immune-mediated diseases, including atopic dermatitis and asthma.
May 16, 2024 | 11:33 am
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Johnson & Johnson is acquiring Proteologix, Inc. for $850 million in cash, with potential milestone payments. This acquisition will enhance JNJ's portfolio in atopic dermatitis and asthma treatments, potentially leading to high-bar efficacy and remission in these diseases.
The acquisition of Proteologix, Inc. by Johnson & Johnson is a strategic move to enhance its portfolio in immune-mediated diseases, particularly atopic dermatitis and asthma. The addition of Proteologix's bispecific antibodies, PX128 and PX130, which target multiple pathways, could lead to high-bar efficacy and remission in these diseases. This is likely to positively impact JNJ's stock in the short term.
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