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Johnson & Johnson on Wednesday said that it will pay $6.5 billion in cash to buy Momenta Pharmaceuticals, representing a 70% premium to where the Massachusetts drugmaker closed trading yesterday.

Why it matters: Johnson & Johnson is seeking to expand its capacity in drugs to treat autoimmune diseases, including a muscle-weakening condition known as myasthenia gravis.

Johnson & Johnson to buy Momenta Pharma for $6.5 billion

The deal comes at a 70% premium to Momenta's closing stock price yesterday.

Health Care

Johnson & Johnson

Business

Johnson &amp; Johnson on Wednesday said that it will pay $6.5 billion in cash to buy Momenta Pharmaceuticals, representing a 70% premium to where the Massachusetts drugmaker closed trading yesterday.Why it matters: Johnson &amp; Johnson is seeking to expand its capacity in drugs to treat autoimmune diseases, including a muscle-weakening condition known as myasthenia gravis.

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Johnson & Johnson to buy Momenta Pharma for $6.5 billion

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