J&J makes $2B push into ADCs with Ambrx buyout in oncology deal spree: #JPM24

SAN FRAN­CIS­CO — John­son & John­son is adding to Big Phar­ma’s love for an­ti­body-drug con­ju­gates with a $2 bil­lion cash deal to swoop up Am­brx Bio­phar­ma.

The deal was an­nounced Mon­day morn­ing as the an­nu­al JP Mor­gan Health­care Con­fer­ence gets un­der­way along­side two oth­er ac­qui­si­tions: Mer­ck-Har­poon and No­var­tis-Ca­lyp­so. The trio of ac­qui­si­tions fol­lows a deal-heavy De­cem­ber as the in­dus­try ex­pects Big Phar­ma to start spend­ing its trove of cash to shore up its pipelines as end-of-decade patent ex­pi­ra­tions loom.

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