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Sen. Bernie Sanders (I-Vt.), chair of the Senate Committee on Health, Education, Labor and Pensions (HELP), announced Thursday he will be holding a vote to issue subpoenas to the CEOs of Johnson & Johnson and Merck for testimonies on drug pricing after they refused requests to appear before the Senate panel. The subpoenas for Johnson…
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The acquisition will add a promising cancer therapy for J&J, which is paying a 105% premium, and move it further into a hot space for drugmakers.
J&J will pay $28 per share of Ambrx, which represents a premium of about 105% to the stock's last close. Ambrx is developing therapies that belong to the class of drugs called antibody drug conjugates (ADC), which are described by researchers as "guided missiles" to target cancer cells and minimize damage to healthy tissue. The deal would help J&J add a promising therapy for cancer and move further into a hot space for drugmakers that has witnessed a rush of deals in recent months.