NEW BRUNSWICK, N.J. (AP) — Johnson & Johnson is buying the biopharmaceutical company Alios BioPharma Inc. for about $1.75 billion.
Alios is a privately held company that focuses on developing therapies for viral diseases.
The deal includes Alios' portfolio of potential therapeutics for viral infections including compound AL-8176, an orally administered antiviral therapy currently in Phase 2 studies for the treatment of infants with respiratory syncytial virus. RSV typically causes only mild, cold-like symptoms in most children. But it is also the most common cause of pneumonia in U.S. infants.
The acquisition is targeted to close in the fourth quarter.
Johnson & Johnson is based in New Brunswick, New Jersey.
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