J&J completes tender offer of Cougar Biotechnology

NEW BRUNSWICK, N.J. Drug maker Johnson & Johnson has completed its tender offer for a Los Angeles-based biotech company.

J&J announced last week that its tender offer for Cougar Biotechnology expired at midnight Thursday, with 84.4% of the outstanding shares of Cougar’s common stock validly tendered and not withdrawn.

The company said that it would also offer to acquire all remaining shares of Cougar by this Thursday.