January 5, 2015 / 12:30 PM / 4 years ago

J&J buys bowel drug license option from Isis Pharma for $835 mln

Jan 5 (Reuters) - Johnson & Johnson will pay Isis Pharmaceuticals Inc up to $835 million for the option to license three drugs targeting autoimmune diseases in the bowel.

Isis Pharmaceuticals said it will receive $35 million in an upfront payment and will be eligible to receive royalties on sales of the drugs.

Janssen Biotech Inc, a unit of J&J, will have the right to license a drug from each of the programs once a candidate is identified, the Carlsbad, California-based developer said. (Reporting by Vidya L Nathan in Bengaluru; Editing by Savio D’Souza)

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