The deal gives J&J’s Janssen unit access to Momenta’s experimental therapy, nipocalimab, being tested for myasthenia gravis, a neuromuscular disease that causes weakness in muscles, and other diseases where the immune system attacks the body. J&J hopes to get the drug approved to treat several conditions and eventually bring in blockbuster sales, as the company bulks up its pharmaceuticals unit, its largest business. Shares of Cambridge, Massachusetts-based Momenta were up 69.3% at $52.15 before the bell, just a hair’s breadth away from the offer price of $52.50. …read more
Source:: Yahoo Finance
