Description
J&J’s Pursuit of Protagonist Therapeutics: A Strategic Move To Reinforce Immunology Leadership Post-Stelara!
As Johnson & Johnson (JNJ) faces intensifying competition in the immunology landscape, recent reports indicate the healthcare behemoth is exploring the acquisition of Protagonist Therapeutics, a biotechnology firm currently collaborating with JNJ on the development of icotrokinra, a novel oral therapy targeting immune diseases like plaque psoriasis and ulcerative colitis. The news has driven Protagonist’s stock up nearly 30%, valuing the company at around $4.2 billion. JNJ already holds exclusive commercialization rights to icotrokinra, which analysts at Leerink Partners project could generate peak global sales of $9.5 billion. With Stelara—one of JNJ’s top-selling immunology drugs—facing erosion from biosimilars, the move signals a strategic attempt to defend and expand its immunology franchise. The deal would also extend JNJ’s access to rusfertide, a late-stage blood cancer candidate being developed in collaboration with Takeda. These acquisition talks come amid a broader context where JNJ is working to fortify its pipeline post-Stelara, leveraging a wide economic moat, high cash flow generation, and a diversified healthcare portfolio.
Our Report Structure:
⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures
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