Information about the possible agreement remains unclear. At the end of trading on Thursday, Protagonist’s market value exceeded $4 billion. According to the WSJ, due to the common practice of repurchasing shares at a premium, the overall value of Protagonist in the agreement is anticipated to be significantly greater than that.
J&J is working together with Protagonist to create an oral medication for treating various immune disorders and possesses exclusive commercialization rights. If obtained, J&J would secure access to rusfertide, a medication co-developed by Protagonist and the Japanese firm Takeda Pharmaceutical.
Rusfertide has demonstrated encouraging outcomes in advanced trials for addressing a rare blood cancer known as polycythemia vera.
FactSet reports that J&J currently holds around 4% of Protagonist’s shares.
source: wsj.com
