2024-01-08 13:56:14
By Le Figaro with AFP
Published 1 hour ago, Updated 1 hour ago
Johnson & Johnson will pay $2 billion to buy Ambrx JHVEPhoto – stock.adobe.com
The American laboratory has announced its intention to acquire the start-up specializing in treatment research against several types of cancer.
To acquire a new portfolio of molecules, the American laboratory Johnson & Johnson had to release its own. In a press release published this Monday, January 8, the company announced the acquisition of the Californian biotech Ambrx for around $2 billion in order to strengthen its position in the treatment of cancer.
With this operation, Johnson & Johnson will get its hands on several molecules in development for several types of cancers. They use specific antibodies called “armed” (ADCs or «Antibody Drug Conjugates»), considered particularly promising.
Promising treatments against breast and prostate cancers
The ADCs, manufactured in the laboratory, are coupled to an anti-cancer molecule which they will bring precisely to where the tumor is located. Ambrx’s lead product in development, ARX517, is in clinical development for metastatic prostate cancer. The biotech is also developing other molecules, including one for breast cancer. The acquisition should be finalized during the first half of 2024, specifies J&J, which will pay $28 for each Ambrx share. The latter’s stock ended Friday at $13.63.
The major global laboratories, which have garnered strong revenues during the Covid-19 pandemic, are competing in oncology, which has become one of the most buoyant and lucrative sectors of the pharmaceutical industry in recent years. Johnson & Johnson, which reported nearly $95 billion in annual sales in 2022, will report its 2023 annual results on January 23. In electronic trading before the opening of the New York Stock Exchange, its title fell very slightly by 0.2% to 160.74 dollars.
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