Johnson & Johnson reported positive Phase 2 results for its drug nipocalimab in treating systemic lupus erythematosus and Sjögren's disease. Following this, the company acquired biotech firm Firefly Bio in a $1 billion cash deal to expand into KRAS-targeting degrader conjugates. Other significant industry activity included Incyte's $2 billion purchase of Vega Therapeutics and Galmed Pharmaceuticals' acquisition of Colospan to focus on gastrointestinal medical technology.
