Johnson & Johnson Just Paid $1 Billion for a Technology That Could Crack One of Cancer's Most "Undruggable" Targets. Why That's Very Good News for Investors.
Medical science's capabilities are catching up with what it knows about the genomics of disease. J&J just made sure it's better equipped to utilize the industry's newest capabilities.
Johnson & Johnson Just Paid $1 Billion for a Technology That Could Crack One of Cancer's Most "Undruggable" Targets. Why That's Very Good News for Investors.
Overview
The pharmaceutical industry continues to address any and every known ailment. Cancer, however, remains the business's biggest market. Precedence Research suggests the global oncology market is currently worth nearly $280 billion per year, en route to $700 billion by 2035.
And that bodes well for drugmaker Johnson & Johnson (NYSE: JNJ). After years of lethargic performance, the company's been on a buying spree of late, acquiring Halda Therapeutics and Ambrx Biopharma specifically because of the developmental work these companies were doing on the cancer front.
Details
Fast-forward to today. J&J's most recent purchase -- while relatively small at $1 billion -- advances the company's goal of producing $50 billion worth of annual oncology revenue by 2030. (For perspective, Johnson & Johnson did $94.2 billion worth of business last year.)
Source
Originally published at www.fool.com.
