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J&J's $6.5 billion cash acquisition of Momenta paid off on a nine-year delay: nipocalimab won FDA approval as IMAAVY for generalized myasthenia gravis in April 2025, and by April 2026 the FDA had granted Priority Review for a second indication (warm autoimmune hemolytic anemia), turning a single pre-commercial antibody into a multi-indication franchise.
Johnson & Johnson will acquire Momenta Pharmaceuticals for $52.50 per share in cash, or approximately $6.5 billion, gaining full global rights to nipocalimab,…
Johnson & Johnson announced a definitive agreement to acquire all outstanding shares of Momenta Pharmaceuticals, Inc. for $52.50 per share in cash,…
Johnson & Johnson today announced that it has completed its acquisition of Momenta Pharmaceuticals, Inc. through Vigor Sub, Inc., a wholly-owned subsidiary of…
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Johnson & Johnson acquired Momenta Pharmaceuticals for approximately $6.5 billion ($52.50 per share in cash) via tender offer and merger, completed October 1, 2020, gaining nipocalimab (M281), an anti-FcRn antibody targeting autoantibody-driven diseases. The acquisition thesis has since been validated: on April 30, 2025 the FDA approved nipocalimab as IMAAVY (nipocalimab-aahu) for generalized myasthenia gravis (gMG) in adult and pediatric patients aged 12 and older who are anti-AChR or anti-MuSK antibody positive -- the first and only FcRn blocker approved across both antibody subtypes, based on the Phase 3 Vivacity-MG3 study. J&J is pursuing label expansion: it submitted an sBLA for warm autoimmune hemolytic anemia (wAIHA) in February 2026 (ENERGY Phase 2/3), for which the FDA granted Priority Review on April 27, 2026 as the potential first-ever approved wAIHA therapy, and nipocalimab holds Fast Track designation in Sjogren's disease. The asset has moved from pre-commercial pipeline to an approved, multi-indication FcRn franchise.
45K US cases/yr · $840M Global wAIHA Market (2024)
wAIHA is the most common form (60-70%) of autoimmune hemolytic anemia. Treatment shifting from corticosteroids and rituximab toward targeted therapies.
Sanofi (rilzabrutinib, BTK) Phase 2 for wAIHA. Annexon (ANX005, C1q) and FcRn programs in development. Market projected >15% CAGR.
4K US cases/yr · $500M Estimated Global HDFN Treatment Market
HDFN occurs when maternal antibodies attack fetal red blood cells. FcRn inhibitors like nipocalimab could be transformative by reducing pathogenic maternal IgG transfer.
Current management limited to intrauterine transfusion, phototherapy, and exchange transfusion. J&J's nipocalimab is in Phase 3 (UNITY) for HDFN prevention, potentially the first drug approved for this indication.
J&J acquired Momenta at $52.50/share for $6.5B to gain nipocalimab anti-FcRn antibody for autoimmune diseases.
Nipocalimab met primary endpoint in HDFN, the only therapy in development for alloimmunized pregnant adults.
FDA accepted filing for nipocalimab in generalized MG, key commercial indication.
FDA approved nipocalimab as IMAAVY for gMG in AChR+/MuSK+ patients aged 12+ -- first and only FcRn blocker across both antibody subtypes (Vivacity-MG3). Momenta's lead asset reaches commercial approval ~4.5 years after the J&J acquisition closed.
J&J reported sustained benefits through Week 60 OLE, reinforcing $5B peak sales projection.
FDA granted Priority Review to the IMAAVY sBLA in wAIHA (ENERGY Phase 2/3), positioning it as the potential first-ever approved wAIHA therapy. Second indication advancing the nipocalimab FcRn franchise.
Acquisition thesis validated. Nipocalimab is now FDA-approved as IMAAVY for gMG (Apr 2025) with a second indication (wAIHA) under FDA Priority Review (Apr 2026). Momenta's lead asset moved from pre-commercial pipeline to an approved, multi-indication FcRn franchise.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Johnson & Johnson / Momenta Pharmaceuticals Inc. (this deal) | 2020 | $6.5B | 72 |
| Johnson & Johnson / Legend Biotech Corporation | 2017 | $9.0B | 96 |
| Johnson & Johnson / Centocor Inc. | 1999 | $4.9B | 92 |
| Johnson & Johnson / Cougar Biotechnology, Inc. | 2009 | $970M | 91 |
| Johnson & Johnson / Actelion Ltd | 2017 | $30.0B | 90 |
| Johnson & Johnson / Aragon Pharmaceuticals Inc. | 2013 | $1.0B | 89 |
| Johnson & Johnson / Legend Biotech Corporation | 2017 | $350M | 83 |
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More: 2020 deals · Johnson & Johnson deals · Immunology deals