| Submit your comments on this article |
| Science & Technology |
| J&J, Arrowhead in gene-silencing drug deal worth up to $3.7 billion |
| 2018-10-06 |
| (Reuters) - Arrowhead Pharmaceuticals Inc (ARWR.O) said on Thursday Johnson & Johnson (JNJ.N) would develop and market its gene-silencing Hepatitis B treatment and buy a minor stake in a deal that could be potentially worth more than $3.7 billion, sending its shares surging 20 percent. Under the deal, J&J’s Janssen Pharmaceuticals unit will obtain a worldwide license for Arrowhead’s ARO-HBV drug and an option to collaborate on up to three new RNA interference (RNAi) drugs, which use gene-silencing technology. J&J’s investment comes a month after Arrowhead released data from an early trial testing ARO-HBV, dubbed "revolutionary" by analysts who also said the company was positioned to develop a functional cure for Hepatitis B. It also follows the first U.S. approval for an RNAi drug - Alnylam Pharmaceuticals’ (ALNY.O) Onpattro - in August that affirmed the gene-silencing class of drugs as a new frontier in the field of medicine. J&J will make a $75 million equity investment in Arrowhead at $23 per share, a premium of about 24 percent to the stock’s Wednesday close. Arrowhead will also get $175 million upfront, the company said in a statement. |
| Posted by:Besoeker |