From CNBC:

Johnson & Johnson has announced it will pay $2 billion in cash to acquire Ambrx Biopharma, a drugmaker specializing in antibody-drug conjugates (ADCs) to target multiple cancers. This move follows similar investments by Pfizer, AbbVie, and Merck over the last year. J&J is aiming to fill a revenue hole expected in 2025 due to generic competition for its top-selling drug. The acquisition is expected to close in the first half of 2024.



Read more: J&J to acquire Ambrx Biopharma, a cancer drug developer, for $2B