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"Johnson and Johnson shares are higher by about 1.4%. Your ticker is J&J. The company has agreed to buy the cancer treatment Biotech Hall that therapeutics for about $3 billion. This is part of a strategy to cope with eroding sales for its major psoriasis drug Stellara which is now facing competition after key patents uh expire. Obviously this is a big problem for all the uh pharma companies always when your patents expire you see competition. You need to look for the next big thing. And this transaction is the latest in a spate of deals in the pharma industry as drug companies look to refill their pipelines."
J&J's $3 billion acquisition of a cancer treatment biotech is a strategic move to offset declining sales from its flagship psoriasis drug facing patent expirations, reflecting a broader wave of M&A activity in the pharmaceutical sector.
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