Johnson & johnson features agreed to buy biotech team momenta pharmaceuticals for $6.5bn in an all-cash price that expand the worlds largest healthcare companys profile of treatments for autoimmune conditions.

Momenta stocks had been up nearly 70 per cent in pre-market trading, almost matching the premium offered by j&j, which decided to pay momenta shareholders $52.50 a share.

The deal will give j&js drugmaking division janssen pharmaceutica accessibility momentas pipeline of services and products, including nipocalimab, a promising treatment plan for the unusual muscular illness myasthenia gravis this is certainly also becoming tested against other autoimmune disorders.

The purchase was driven because of the considerable opportunity present in nipocalimab, combined with clinical capability janssen is getting utilizing the momenta staff, j&j stated in a statement.

Momenta ended up being launched almost 2 full decades ago by ram sasisekharan, a professor of biological engineering at massachusetts institute of technology, and ganesh venkataraman kaundinya.

The organization at first created common versions of medications that had recently been approved because of the us regulator. last year it reported a $290m yearly loss and $23.9m in revenue.

It is the biggest deal hit by j&j because it acquired actelion, the european biotech group, for around $30bn in 2017. last year the brand new jersey-based group purchased robotic platform auris wellness for $3.4bn.

The organization is threatened with mounting legal costs. it is embroiled in lawsuits alleging that its services and products played a role in the usa opioid crisis and faces the threat of legal liabilities over its infant talcum powder after statements your item may cause disease. in-may, j&j stated it could end offering talcum dust in the us and canada.

Big pharmaceutical organizations are more and more dedicated to unusual disease treatments, an area that reasonably couple of have actually expanded into though it provides higher-margin services and products than mass-market medicines.

J&js package follows an identical move by the french pharmaceutical group sanofi, which on monday said it had consented to purchase san francisco-based principia biopharma in a $3.4bn package.

The coronavirus pandemic has encouraged many medical organizations to move their particular focus to finding remedies and a potential vaccine for covid-19.

The us government recently struck a deal with j&j worth significantly more than $1bn to secure 100m doses of the experimental coronavirus vaccine. medical man trials tend to be under means following the organization reported its vaccine had very good results whenever tested on animals.

If successful, j&j has assured to make the vaccine readily available through the pandemic on a not-for-profit basis.

Covid-19 in addition has brought attention to treatments for autoimmune conditions which can be being tested from the infection, although the rehearse of slowing a customers disease fighting capability while battling the condition remains notably controversial.

Last month j&j reported a fall in web earnings in excess of a 3rd whilst the pandemic delayed elective treatments and sales of the medical products and cosmetics declined.

However, the business stated the worst had passed away plus it stayed optimistic about medicine product sales and covid-19 vaccine.