J&J to buy Halda Therapeutics for $3.05B to boost cancer treatments

Johnson & Johnson will acquire Halda Therapeutics for $3.05 billion in cash to expand its cancer treatment portfolio, focusing on solid tumors and prostate cancer.

J&J, a U.S.-based global healthcare and pharmaceutical company, makes prescription drugs, medical devices, and consumer health products. Halda Therapeutics is a privately held biotech firm developing experimental therapies for prostate, breast, lung, and other tumors. Its lead candidate, HLD-0915, uses RiPTAC technology to selectively kill cancer cells while sparing healthy tissue. Analysts say the acquisition provides a “mid- and long-term catalyst” for J&J’s oncology franchise and fits its strategy of acquiring companies where it already has expertise.

J&J’s pharmaceuticals segment, which includes its cancer drugs, reported $15.56 billion in revenue for Q3, slightly above analyst expectations of $15.42 billion. The deal is expected to close in the coming months. Shares of J&J rose 1% in morning trading following the announcement.