J&J Is in Talks to Buy Protagonist Therapeutics, WSJ Reports (2)

Johnson & Johnson is in talks to purchase Protagonist Therapeutics Inc., the Wall Street Journal reported, citing people familiar with the matter.

J&J has an existing partnership with Protagonist to develop therapies for immune conditions. Protagonist also has a partnership with Takeda Pharmaceutical for rusfertide, a drug to treat a rare blood cancer in development. A deal would bolster J&J’s portfolio as its blockbuster immune treatment Stelara faces competition from lower-cost copycats.

Protagonist’s shares jumped as much as 39% on the report, the most since March. The company’s stock had soared 74% this year through Thursday’s close. J&J’s ...