A PYMNTS Company

US: Johnson & Johnson makes move to expand pharmaceutical portfolio

By  |  June 17, 2013

Personal and health care giant Johnson & Johnson has announced plans to acquire privately-held Aragon Pharmaceuticals in a deal that could reach $1 billion, according to reports. The acquisition is a strategic move for Johnson & Johnson into the market for pharmaceutical drugs that specialize in fighting diseases caused and driven by hormones. Reports say the deal between the parties includes a $650 million payment upfront as well as payments of $350 million in increments as the company reaches certain milestones. Aragon will reportedly separate the rest of its assets into a new business. Aragon is currently in the mid-stage of development of a drug to fight prostate cancer. The deal is expected to close in the third quarter of the year.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    Subscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: Fox Business

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.