J&J completes Firefly acquisition and announces $2.58 billion Sail option

On July 29, 2026, Johnson & Johnson completed its $1 billion cash acquisition of Firefly Bio, which will result in an approximately $1 billion in-process research and development charge in the third quarter. J&J also announced agreements with Sail Biomedicines involving $785 million in initial payments, including a $465 million equity investment, plus a $2.58 billion option to acquire Sail; together, the transactions are expected to reduce 2026 adjusted EPS by about $0.64, lowering full-year guidance to $10.96-$11.11 from $11.60-$11.75.