Advertisement

Topics

J&J backs out of $1.1 billion hep C deal, wiping 22.2% from Achillion's stock

05:25 EDT 12 Sep 2017 | Pharmafile

Johnson & Johnson has announced that it is to back out of a $1.1 billion deal with Achillion Pharmaceuticals to develop the firm’s hepatitis C drug pipeline. The news sent Achillion’s stock reeling, wiping away 22.2% of its value.

The deal was originally made back in 2015, where J&J agreed to pay Achillion clinical, regulatory and sales milestones, in addition to royalties. In addition to this, J&J also acquired $225 million of Achillion’s stock as part of the partnership.

read more

Original Article: J&J backs out of $1.1 billion hep C deal, wiping 22.2% from Achillion's stock

NEXT ARTICLE

More From BioPortfolio on "J&J backs out of $1.1 billion hep C deal, wiping 22.2% from Achillion's stock"

Quick Search
Advertisement
 

Relevant Topics

Biotechnology Business
Alliances Astrazeneca Bioethics Boehringer Clinical Research Organization Collaborations GSK Johnson & Johnson Lilly Merck Mergers and Acquisitions Nexium Novartis Pfizer Roche Sanofi ...

Gastroenterology
Astroesophageal Reflux Disease (GERD) Barrett's Esophagus Celiac Disease Cholesterol Crohn's Disease Gastroenterology Hepatitis Hepatology Irritable Bowel Syndrome (IBS) Pancreatitis Peptic Ulcer Disease...