J&J buys bowel drug license option from Isis Pharma for $835 million

Reuters

(Reuters) - Johnson & Johnson will pay Isis Pharmaceuticals Inc up to $835 million for the option to license three drugs targeting autoimmune diseases in the bowel. Isis Pharmaceuticals said it will receive $35 million in an upfront payment and will be eligible to receive royalties on sales of the drugs. Janssen Biotech Inc, a unit of J&J, will have the right to license a drug from each of the programs once a candidate is identified, the Carlsbad, California-based developer said. (Reporting by Vidya L Nathan in Bengaluru; Editing by Savio D'Souza)