Johnson & Johnson Acquires Ambrx Biopharma for $2 Billion

The acquisition aims to boost J&J's oncology portfolio with Ambrx's promising antibody-drug conjugates technology.

Johnson & Johnson (J&J) has announced the acquisition of Ambrx Biopharma for $2 billion in cash, a 105% premium to Ambrx's closing stock price on January 5, 2024.
Ambrx Biopharma specializes in the development of antibody-drug conjugates (ADCs), a promising area in cancer treatment that targets and kills cancer cells while minimizing damage to healthy tissue.
Ambrx's pipeline includes several clinical and preclinical programs that use ADCs to treat a variety of cancers, including metastatic castration-resistant prostate cancer, metastatic HER2+ breast cancer, and renal cell carcinoma.
The acquisition is part of J&J's strategy to boost its oncology portfolio and fill a revenue gap expected in 2025 when its top-selling drug Stelara faces generic competition.
The deal, which has been unanimously approved by the Ambrx Board of Directors, is expected to close in the first half of 2024, subject to approval by Ambrx shareholders and regulatory clearance.