4 Merger and Acquisitions Stock Stories Ready for Due Diligence
Johnson & Johnson (NYSE: JNJ): Current price $95.20
Vertex Pharmaceuticals said Thursday that it sold the royalty it receives on the hepatitis C drug Incivo to its partner Janssen Pharmaceutical, which is a subsidiary of Johnson & Johnson, at a price of $152 million. Beginning in 2014, Johnson & Johnson will no longer be required to pay the royalty it owes Vertex on sales in Europe and other areas. Vertex will continue to sell the drug on its own in the United States, in which it is marketed as Incivek.