STAT+: The ADC hot streak continues: J&J to buy cancer drug developer Ambrx Biopharma
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- January 08, 2024
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ohnson & Johnson said Monday that it would purchase Ambrx Biopharma for nearly $2 billion, picking up a company specializing in targeted chemotherapy treatments — . The deal, disclosed as the biopharma field marked , extends a recent spate of pharma acquisitions, contributing to hopes that 2024 could be a better year for the industry. Under the agreement, J&J will pay $28 per share in cash for Ambrx, roughly a 100% premium to the latter’s recent trading price.
