Johnson & Johnson's $2 Billion Acquisition of Ambrx Signals Major Move in Cancer Treatment

Johnson & Johnson has made a $2 billion cash deal to acquire Ambrx Biopharma, joining other major pharmaceutical companies in a spree of acquisitions focused on antibody-drug conjugates in the oncology sector. This move comes as the industry anticipates increased spending to bolster pipelines ahead of looming patent expirations at the end of the decade.