Fortune January 8, 2024
More than $6.4 billion in health-care deals were announced on Monday as the annual JPMorgan Healthcare Conference kicked off in San Francisco.
The deals include Merck & Co.’s $680 million purchase of cancer drugmaker Harpoon Therapeutics Inc., Boston Scientific Corp.’s $3.7 billion acquisition of device-maker Axonics Inc. and Johnson & Johnson’s $2 billion deal to buy Ambrx Biopharma Inc., whose therapies target tumors with lethal drugs.
Big pharma has been looking to acquisitions to replace blockbusters that are losing steam. Patents are facing looming expiration dates and demand has slowed for once-popular COVID vaccines and treatments. The industry is also sweating government price negotiations under US President Joe Biden’s Inflation Reduction Act.
The end of 2023 brought a frenzy...
Today's Sponsors
Today's Sponsor