J&J Strikes $6.5 Billion Deal for Autoimmune Disease Specialist Momenta

The company logo for Johnson and Johnson is displayed on a screen to celebrate the 75th anniversary of the company's listing at the New York Stock Exchange (NYSE) in New York City, on Sept. 17, 2019. Brendan McDermid/Reuters/File Photo

Johnson & Johnson agreed to buy Momenta Pharmaceuticals Inc for about $6.5 billion on Wednesday, to bolster its portfolio of drugs for hard-to-treat autoimmune diseases.

The acquisition, latest in a recent spate of healthcare deals, comes just days after France’s Sanofi struck a $3.7 billion deal to buy Principia Biopharma Inc for its pipeline of autoimmune disease treatments.