by William White | June 17, 2013 4:36 pm
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.
Source URL: http://investorplace.com/2013/06/jj-to-buy-aragon-pharmaceuticals-for-1b/
Short URL: http://invstplc.com/1fLrvEU
Copyright ©2017 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.