J&J: completes $2 billion acquisition of Ambrx Biopharma
March 07, 2024 at 10:59 am EST
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Johnson & Johnson announced that it has successfully completed the acquisition of Ambrx Biopharma, a clinical-stage biopharmaceutical company with a proprietary synthetic biology technology platform to design and develop next-generation antibody-drug conjugates (ADCs).
This acquisition reinforces Johnson & Johnson's commitment to innovation in prostate cancer and deepens the company's portfolio of next-generation antibody drugs and targeted oncology therapies.
This all-cash transaction has a total enterprise value of approximately $2.0 billion.
This acquisition represents a unique opportunity for Johnson & Johnson to design, develop and commercialize targeted oncology therapeutics.
' Ambrx's proprietary ADC technology integrates the benefits of highly specific monoclonal antibody targeting securely linked to a potent chemotherapeutic payload to achieve targeted and effective elimination of cancer cells without the common side effects typically associated with chemotherapy. '
' We look forward to continuing the development of ARX517, which represents the first and best potential ADC targeting PSMA for the treatment of metastatic castration-resistant prostate cancer, ' said Yusri Elsayed, MD, MHSc, PhD, Global Therapeutic Sector Head, Oncology, Johnson & Johnson Innovative Medicine.
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Johnson & Johnson is one of the world's leading producers of healthcare products. Net sales break down by family of products as follows:
- pharmaceutical products (55.4%): drugs intended for the treatment of cardiovascular diseases, oncological diseases, gastro-intestinal illnesses, infectious, immunological, neurological, dermatological diseases, etc.;
- medical products and equipment (28.9%): diagnostic systems, orthopedic and gynecological equipment, surgical materials, etc. for use by healthcare professionals;
- consumer health products (15.7%): OTC drugs (Tylenol, Sudafed, Benadryl, Zyrtec, Motrin, Nicorette and other brands), health and beauty products (Aveeno, Clean & Clear, Dr. CI:Labo, Neutrogena and OGX), baby care products (Johnson's and Aveeno Baby), oral care products (Listerine), feminine hygiene products (Stayfree and Carefree and o.b.), wound care products (Band-Aid and Neosporin) etc.
At the end of 2022, Johnson & Johnson has 89 manufacturing facilities located in the United States (28), North America (9), Europe (27), Africa and Asia/Pacific (25).
Net sales are distributed geographically as follows: the United States (51.2%), Europe (24.7%), Asia/Pacific and Africa (17.7%) and other (6.4%).