Johnson & Johnson
By therapeutic area
| Therapeutic area | Premium | Deals |
|---|---|---|
| oncology | ×1.23 | 11 |
| immunology | ×1.50 | 4 |
| dermatology | ×1.06 | 4 |
| hematology | ×0.83 | 3 |
By stage at signing
| Phase | Premium | Deals |
|---|---|---|
| phase 2 | ×1.39 | 8 |
| preclinical | ×1.07 | 7 |
| phase 3 | ×0.70 | 5 |
| phase 1 | ×1.38 | 4 |
| approved | ×1.03 | 4 |
Strategy profile
Based on 15 disclosed transactions, Johnson & Johnson concentrates its licensing activity in Immunology, Oncology, and Dermatology. Johnson & Johnson pays a 1.05x premium over market median, with the strongest premiums in Immunology (1.50x). Their most common deal structure is Acquisition, with an average disclosed value of $2.5B. Most recent activity: 2026.
Premium by therapeutic area
How Johnson & Johnson pays relative to peer medians in each TA
Pipeline coverage & gaps
Johnson & Johnson has disclosed activity in 4 of 12 tracked therapeutic areas. Gaps may represent whitespace opportunities for licensors.
Deal type breakdown
How this buyer structures its transactions
| Deal type | Count | Avg upfront | Avg total value |
|---|---|---|---|
| AcquisitionPrimary | 10 | $3.0B | $3.0B |
| Collaboration | 2 | $50M | $502M |
| License | 2 | — | $1.2B |
| Option | 1 | $785M | $3.5B |
Recent disclosed deals
| Year | Asset | Licensor | Indication | Phase | Upfront | Total |
|---|---|---|---|---|---|---|
| 2026 | — | Sail Biomedicines, Inc. | immune-mediated diseases | preclinical | $785M | $3.5B |
| 2026 | DAC oncology platform/pipeline | Firefly Bio | oncology | preclinical | — | $1.0B |
| 2026 | TD-1473 | Theravance | IBD | unknown | $100M | $1.0B |
| 2025 | HLD-0915 (RIPTAC platform) | Halda Therapeutics | solid tumors / prostate cancer | phase_1 | $3.0B | $3.0B |
| 2025 | Caplyta (lumateperone) | Intra-Cellular Therapies | schizophrenia | approved | $14.6B | $14.6B |
| 2025 | STAT6 inhibitor | Kaken Pharmaceutical | atopic dermatitis/asthma | preclinical | — | $1.2B |
| 2024 | psoriasis | Protagonist Therapeutics | psoriasis | phase_3 | $1.0B | $1.0B |
| 2024 | Cretostimogene (CG0070) | CG Oncology | Bladder Cancer (NMIBC) | phase_3 | $1.7B | $3.0B |
| 2024 | atopic_dermatitis | Numab Therapeutics | atopic_dermatitis | preclinical | $1.3B | $1.3B |
| 2024 | Ventura Interatrial Shunt System | V-Wave Ltd. | heart failure | unknown | $600M | $1.7B |
| 2024 | atopic dermatitis asset | Yellow Jersey Therapeutics | atopic dermatitis | unknown | $1.3B | $1.3B |
| 2024 | NM26 | Yellow Jersey Therapeutics | atopic dermatitis | phase_2 | $1.3B | $1.3B |
| 2024 | NM26 | Numab Therapeutics | atopic dermatitis | phase_1 | — | $1.3B |
| 2024 | FNAIT program | Rallybio Corporation | fetal and neonatal alloimmune thrombocytopenia | phase_2 | $500,000 | $4M |
| 2024 | her2_breast_cancer | Ambrx Biopharma | her2_breast_cancer | phase_1 | $2.0B | $2.0B |
How this is computed
For each Johnson & Johnson deal we find the median total deal value of comparable transactions (same therapeutic area + phase, falling back to TA-only with ≥3 peers). The buyer’s deal divided by the peer median is the per-deal premium. We trim outliers, take the trimmed mean, and clamp to [0.7×, 1.5×] to reject data errors. Confidence scales with sample size.
Trimmed mean of 28 disclosed deal premiums vs. peer medians. Raw premium 1.048, clamped to [0.7, 1.5].