Johnson & Johnson (J&J) is in talks to acquire Protagonist Therapeutics, potentially boosting Protagonist’s market value of over $4bn. J&J collaborates with Protagonist on an oral immune disease treatment, holding exclusive commercialisation rights. The acquisition could provide access to rusfertide, a promising drug for rare blood cancer, bolstering J&J’s drug portfolio.

Protagonist’s stock surged by over 70% in 2025, with shares soaring more than 450% since its 2016 IPO. Despite the potential acquisition’s size, it is manageable for J&J, with a market cap nearing $460bn. J&J faces competition for its immune-disease drug Stelara and aims to offset sales losses due to patent expirations with new products.

J&J has a history of strategic acquisitions, like the $15bn purchase of Intra-Cellular Therapies in January 2025. J&J Innovative Medicine is expanding its US presence with a $55bn investment up to 2029. In 2024, J&J expanded its biotech footprint with an $850m Proteologix acquisition, focusing on immune-mediated diseases.

Read more at Yahoo Finance: J&J in talks to acquire Protagonist Therapeutics