J&J Buys Small Oncology Company for $1 Billion

Cougar Biotechnology agreed to be purchased by Johnson & Johnson (J&J) for nearly $1 billion in cash, giving J&J access to the company’s investigational prostate cancer, breast cancer and multiple myeloma treatments. J&J subsidiary Ortho Biotech Oncology Research & Development will work with Cougar to develop the products, including CB7630 (abiraterone acetate), a molecule that suppresses testosterone production.
Drug Industry Daily