Johnson & Johnson (JNJ) on Monday announced it has entered into a definitive agreement to acquire Firefly Bio, Inc. for $1 billion in cash. The transaction is expected to occur later this year, subject to approvals.
The acquisition includes Firefly Bio's proprietary Firelink degrader antibody conjugate (DAC) platform for KRAS-driven tumours and is expected to strengthen Johnson & Johnson's oncology pipeline.
The Firelink degrader antibody conjugate is designed to overcome existing treatment limitations by delivering protein degraders to tumour cells in a targeted manner while minimizing effects on healthy cells.
Johnson & Johnson had traded between $149.04 and $251.71 over the last year.
JNJ is currently trading at $233.80, up 0.71%.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.