Johnson & Johnson to pay €5.5bn for Momenta, in largest pharma deal this year

The Johnson & Johnson Vision Care Ireland site in Limerick, a project completed by John Sisk & Son.

Johnson & Johnson agreed to pay $6.5bn (€5.5bn) in cash to acquire Momenta, a maker of autoimmune-disease drugs, in the largest pharmaceutical-industry merger this year.

Though the price tag falls short of some of the industry-shifting takeovers of recent years, the deal is the latest sign drug companies are looking for ways to bulk up even as the coronavirus pandemic upends other businesses.