BioCentury
ARTICLE | Top Story

J&J to merge with Alza

March 27, 2001 8:00 AM UTC

The companies announced a merger agreement, confirming earlier rumors regarding merger discussions (see BioCentury Extra, Monday, Mar. 26). Under the deal, drug delivery company Alza (AZA) shareholders will receive a fixed ratio of 0.49 JNJ shares for each AZA share. The deal is valued at $12.3 billion based on AZA's 295 million fully diluted shares outstanding and JNJ's Monday stock price of $85.38. The companies said the deal was valued at $10.5 billion net of AZA cash. According to JNJ, the merger will enhance existing JNJ growth platform areas that include oncology, women's health, urology, pain management and the central nervous system (CNS). ...