Why This Biotech Stock Looks Prime For A Johnson & Johnson Buyout - (Investor's Business Daily via NewsPoints Desk)

  • Chardan analyst Gbola Amusa suggested that MeiraGTx could be a takeover target for Johnson & Johnson, Investor's Business Daily reported Friday.

  • Earlier this week, Johnson & Johnson conducted a pharmaceutical business review that featured joint programmes with MeiraGTx.

  • Amusa said the review supported "the increased probability of a MeiraGTx acquisition by [Johnson & Johnson] in the coming years," adding "to us, this day shows [Johnson & Johnson's] commitment to advanced therapeutics and importantly for [Johnson & Johnson] to achieve some of its goals through [MeiraGTx's] platforms."

  • Johnson & Johnson specifically discussed three gene therapy programmes from MeiraGTx, including treatments for colour blindness and progressive vision loss.

  • Amusa predicted that the partnered gene therapies could reach the market in 2023 or 2024, adding that Johnson ^ Johnson is expanding its efforts into adeno-associated virus engineering.

  • "Gene regulation and synthetic biology are to us some of the biggest themes in all of genetic medicines," the analyst stated, continuing "to us, it is an important positive for [MeiraGTx] that it may be a vehicle through which [Johnson & Johnson] may invest in this theme."

  • FirstWord Reports: Providing insight, analysis and expert opinion on important Pharma trends and challenging issues <Click here>

To read more NewsPoints articles, click here.

Reference Articles