Why J&J Bought a Big Piece of Elan
Morningstar's Damien Conover and Alex Morozov discuss what J&J's stake in biotech Elan means for both companies.
Alex Morozov: Good morning, I'm Alex Morozov, the associate director of the health-care team here at Morningstar. This morning Irish biotechnology company Elan has announced that it's signed a deal with J&J, where Johnson & Johnson and Elan combined for $1.5 billion.
The deal is very interesting because Elan has been rumored to be a target of acquisition since early 2009. In fact, Morningstar has looked through list of our biotechnology companies in our universe and identified Elan as the company that is most likely to be acquired by a large pharmaceutical company. The news this morning has definitely validated this opinion.
Alex Morozov does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.
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