Johnson & Johnson to acquire Ambrx Biopharma for $2 billion
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©Reuters. NEW BRUNSWICK – Johnson & Johnson has reached an agreement to acquire Ambrx Biopharma in a deal valued at $2 billion, equivalent to $28 per share. The purchase price represents a significant premium to Ambrx’s recent stock valuation, underscoring the pharmaceutical giant’s investment in the future of targeted cancer treatments.
Johnson & Johnson’s move is a strategic move to strengthen its portfolio in oncology, with a particular focus on the promising antibody-drug conjugate (ADC) technology in which Ambrx Biopharma specializes. ADCs are an emerging class of therapies that combine the targeting capabilities of antibodies with the anticancer capabilities of cytotoxic drugs, providing a more precise approach to cancer treatment.
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