J&J Acquires Ambrx Biopharma for $2 Billion, Expands in Cancer Drug Development

Details:
$Johnson & Johnson(JNJ.US)$ to acquire $Ambrx Biopharma(AMAM.US)$ for $2 billion in cash, focusing on antibody-drug conjugates (ADCs) for cancer treatment. $Pfizer(PFE.US)$ $Eli Lilly and Co(LLY.US)$ $Merck & Co(MRK.US)$ $AbbVie(ABBV.US)$ $Moderna(MRNA.US)$
Ambrx's ADCs, known as 'guided missiles,' target cancer cells specifically, minimizing harm to healthy tissues.
The deal announced at the JPMorgan Healthcare Conference positions J&J among other big pharma like Pfizer, AbbVie, and Merck in the ADC market.
Acquisition is part of J&J's strategy to offset potential revenue loss from its top-selling drug Stelara facing generic competition in 2025.
J&J’s Dr. Yusri Elsayed: "Ambrx’s pipeline and ADC platform to transform cancer treatment."
J&J to pay $28 per share for Ambrx, nearly double its closing price before the announcement.