J&J to Buy Aragon Pharmaceuticals for $1B

Johnson & Johnson gets a leg up on prostate cancer treatment

   

By the end of the third quarter, Aragon Pharmaceuticals will have a new home with Johnson & Johnson (JNJ).

Johnson & Johnson has agreed to pay $650 million right off the bat, as well as additional $350 million if additional requirements are met.

Aragon researches treatment methods for prostate cancer; the purchase seemingly will give Johnson & Johnson a leg up in the development of drugs for prostate cancer.

“Prostate cancer is a key area of focus for us, and we are really excited about ARN-509 and adding it to our portfolio,” J&J spokeswoman Kellie McLaughlin told Reuters.

JNJ shares finished up fractionally today.


Article printed from InvestorPlace Media, http://investorplace.com/2013/06/jj-to-buy-aragon-pharmaceuticals-for-1b/.

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