Johnson & Johnson has attained a offer to acquire Momenta Pharmaceuticals for $fifty two.50 for every share or $6.five billion in an all hard cash offer, the businesses claimed.

The valuation signifies a 70% high quality to Momenta’s closing rate on August eighteen, 2020. The company’s inventory rate jumped extra than 69% in premarket trading Wednesday. As of yesterday, Momenta’s inventory was up fifty six.two% year to date.

The offer will give J&J’s Janssen unit access to nipocalimab, an experimental remedy Momenta is acquiring to treat autoimmune disorders. Nipocalimab is remaining examined as a procedure for myasthenia gravis, a neuromuscular sickness.

“Programs these as nipocalimab have the probable to enhance the lives of numerous clients suffering from autoimmune and fetal maternal disorders,” Momenta main government officer Craig Wheeler claimed in a assertion. “This acquisition supplies strong value for our shareholders and ensures a degree of expenditure in our interesting portfolio that will further increase its probable for clients.”

J&J also reiterated its 2020 altered earnings for every share forecast.

“We discover the offer modestly astonishing as we see each one particular of Momenta’s property as to some degree tough to produce,” BTIG analyst Thomas Shrader claimed. Shrader claimed it was tricky to envision a greater bid for the business.

“Janssen will have the probable to introduce a number of launches, a lot of as initial-in-class indications with probable for sizeable peak year profits, some of which could exceed $1 billion,” Johnson & Johnson claimed in a assertion.

The offer comes times immediately after a very similar move by Sanofi. On Monday, the French drugmaker declared it experienced attained an settlement to acquire Principia Biopharma for $3.6 billion, or $one hundred for every share, in a bid to bolster its individual portfolio of autoimmune therapies.

The transaction is envisioned to close in the next fifty percent of 2020.

Robin Utrecht/SOPA Illustrations or photos/LightRocket by way of Getty Illustrations or photos

Janssen, Johnson & Johnson, Momenta Pharmaceuticals