World News

Novanta plans to finance the acquisition using a combination of cash on hand, proceeds from a recently completed US$300 million equity raise, and its existing credit facilities.

Anaphylaxis occurs when the immune system overreacts to a substance it perceives as harmful, triggering symptoms that can rapidly become life-threatening.

The approval allows the company to market the medicine across all 27 European Union member states, as well as Iceland, Liechtenstein, and Norway, subject to national pricing, reimbursement, and market-access requirements.

The Hatfield facility, located north of London, will undergo a phased upgrade that will significantly expand its manufacturing, packaging and distribution capabilities.

The therapy builds on long-standing research led by Prof. Rami Aqeilan of the Hebrew University of Jerusalem, who helped uncover the critical role of the WWOX gene in brain development.

The agreement includes an upfront payment of US$1.25 billion, with additional milestone-based payments of up to US$750 million tied to future sales performance.

The company has invested nearly US$5 billion in the United States over the past 15 years, expanding its manufacturing, research, development, and distribution infrastructure.

The deal integrates Firefly Bio’s experimental Firelink degrader-antibody conjugate platform into J&J’s oncology research and development portfolio, marking a significant step in its long-term strategy to enhance targeted drug delivery systems.

The move comes as Teva advances plans to divest its API unit, Teva Active Pharmaceutical Ingredients (TAPI), a process first announced in January 2024.

The acquisition comes as GSK intensifies its shift toward oncology to offset expected revenue pressure from upcoming patent expirations in its HIV franchise.