RapidEye Johnson & Johnson ( NYSE: JNJ ) announced Thursday that its recently announced acquisition of Yellow Jersey Therapeutics will lead to a roughly $1.25B charge in its financials for Q3 2024 and the full year. In May, its Swiss owner, Numab Therapeutics, announced the $1.
25B all-cash deal under which the New Jersey-based healthcare giant expected to acquire Yellow Jersey to obtain global rights to its eczema candidate, NM26. J&J ( JNJ ) said Thursday that the transaction successfully concluded, and it entered into a separate agreement with Kaken Pharmaceutical to secure rights to NM26 in Asia Pacific. Announcing the deal's financial impact, the company said the transaction, accounted for as an asset acquisition, will cause an in-process R&D charge of ~$1.
25B this year. It would also dilute the company's adjusted earnings per share by $0.56 and about $0.
10 in 2024 and 2025, respectively. JNJ plans to revise its guidance to reflect the 2024 impact, with its Q2 2024 financials expected next week. More on Johnson & Johnson Johnson & Johnson Q2 Earnings Preview: Scrutinizing Its Earnings Quality Johnson & Johnson: Remaining A Buy Despite Remaining Risks Johnson & Johnson: A Lot Of Moving Parts, But Perhaps Finally Lurching In The Right Direction Emergent, J&J resolve dispute over COVID vaccine manufacturing deal Johnson & Johnson receives Canadian approval for Rybrevant in first-line NSCLC.
