Prostate Cancer

Johnson & Johnson Announces Definitive Agreement to Acquire Cougar Biotechnology, Inc.

Published in Drug Week, June 5th, 2009

Johnson & Johnson (NYSE:JNJ) and Cougar Biotechnology, Inc. (NASDAQ:CGRB), a development stage biopharmaceutical company with a specific focus on oncology, announced a definitive agreement whereby Cougar Biotechnology will be acquired for approximately $1.0 billion in a cash tender offer.

Cougar Biotechnology, which has compounds in development for the treatment of prostate cancer, as well as breast cancer and multiple myeloma, will work with Ortho Biotech Oncology Research & Development, a unit of Centocor Research & Development, Inc., a Johnson & Johnson company.

Under the terms of the agreement, Johnson & Johnson will initiate a tender offer,...

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Source: Drug Week (2009-06-05)

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