Johnson & Johnson

JNJ: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$152.00	Qynrj	Tlzjkdq

Johnson & Johnson: Proteologix Acquisition Yields Promising Early-Stage Immunology Drugs

Damien Conover

May 16, 2024

Johnson & Johnson’s announced acquisition of Proteologix for $850 million upfront followed by potential milestone payments doesn’t impact our fair value estimate but yields attractive early-stage atopic dermatitis and asthma drugs at a reasonable price. The pipeline drugs complement J&J’s well-positioned immunology franchise and hold the potential to help strengthen the firm’s wide moat.

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