The already-successful new prostate cancer drug Zytiga is not solely responsible for turning around the fortunes of Johnson & Johnson's (JNJ) once-lackluster drug business, but it has certainly played an important role. Johnson & Johnson is now doubling-down on that success, acquiring privately-held Aragon Pharmaceuticals in a $1 billion deal that could represent a major headache for prime prostate cancer drug rival Medivation (MDVN). Although Medivation is likely to have several more years before it has to worry about Aragon's drug, this is very clearly a shot across the bow from a well-armed rival with deep pockets.
The Deal That Could Threaten Medivation
Johnson & Johnson announced Monday morning that it had reached an...
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