Biotech Isis Pharmaceuticals (ISIS) leapt 10% to a new high above 68 In the stock market today after it signed a licensing deal with Johnson & Johnson worth up to $835 million. J&J’s (JNJ) Janssen Biotech arm agreed to pay $35 million upfront and up to $800 million in milestone payments to develop drugs for autoimmune disorders of the gastrointestinal tract using Isis’ RNA-targeting platform. Such GI disorders have already filled Janssen’s coffers
Biotech MacroGenics (MGNX) cut a licensing deal worth as much as $700 million with Johnson & Johnson’s drug-development arm Monday, sending its stock up 11% to a 10-month high above 38 on the stock market today. Johnson & Johnson’s (JNJ) unit Janssen Biotech agreed to pay $50 million upfront for rights to MacroGenics’ MGD011, an antibody that targets two biomarkers associated with malignancies of the B-cell, a type of white blood cell. Janssen
Specialty drugmaker Mallinckrodt (MNK) said Thursday that the FDA is no longer recognizing its generic ADHD drug as equivalent to the original, which would essentially knock it out of the market. Mallinckrodt was down 5.5% in morning trading in the stock market today, near 88. Malinckrodt stock touched an all-time high near 96 on Nov. 5. The drug in question, methylphenidate ER, is a generic version of Concerta, Johnson & Johnson’s (JNJ)