Aragon Purchased For $650M+

Aragon Pharmaceuticals has been bought by Johnson & Johnson for at least $650 million. J&J hopes to boost its position in prostate drug development. Aragon is a privately held company focused on the development of drugs to treat hormonally-driven cancers. The deal made between Aragon and J&J allows for additional payments of up to $350 million if certain milestones are met. Read the full story.