Momenta Enters Agreement With Johnson & Johnson

Momenta Pharmaceuticals Inc (Momenta) announced that it has entered into a definitive agreement with Johnson & Johnson (J&J). According to the agreement, J&J will acquire Momenta for USD 52.50 per share in an all-cash transaction.

Momenta Pharmaceuticals Inc (Momenta) announced today that it has entered into a definitive agreement with Johnson & Johnson (J&J). According to the agreement, J&J will acquire Momenta for USD 52.50 per share in an all-cash transaction. The fully diluted equity value of Momenta comes up to USD 6.5 billion. The agreement saw approval from the Board of Directors of both the companies.

Craig Wheeler, the President and Chief Executive Officer of Momenta shares how the agreement with J&J recognizes the value created by their dedication and years of commitment to their mission. He also talks about how programs like nipocalimab which has tremendous potential to improve the lives of the people who have autoimmune and fetal-maternal diseases.

Wheeler also talks about how J&J is the right company to advance their portfolio of novel drug candidates for rare and autoimmune diseases. He also mentions J&J’s leadership in immunology, global reach, and capabilities, along with a match with Momenta’s vision makes it a strong fit for their company.

Depending on the satisfaction of all the conditions and also on the completion of the tender offer and merger, the transaction is expected to be completed in the second half of 2020. Until the transaction is not complete, Momenta will continue to work as an independent company.

For the second quarter of 2020, Momenta’s total revenue was USD 6.6 million. The same in 2019 was USD 5.2 million. The company also reported a net loss of USD 57 million during Q2-2020, which had significantly improved from the net loss value of USD 114 million for the same quarter in 2019. Momenta, as of Jun. 30, 2020, had USD 450.6 million in cash, cash equivalents, and marketable securities, which has reduced from that of USD 545.1 million on Dec. 31, 2019.

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