Jan 26, 2017
Johnson & Johnson (J&J) has said that it is going to buy Swiss biotech Actelion Pharmaceuticals for $30 billion. The company also plans to spin out its research and development unit into a separate business. The deal is expected to close in mid-February.
The companies said in a statement that J&J will pay $280 per share for the Allschwil, Switzerland-based group, which is the Swiss franc equivalent of Sfr280.08 per share. Once the R&D unit is spun out, Actelion shareholders will receive a one-for-one holding in the new company as a dividend. According to the statement, the deal was unanimously approved by both boards, and no shareholder approval is required.
Johnson & Johnson CEO Alex Gorsky said: “We believe this transaction offers compelling value to both Johnson & Johnson and Actelion shareholders. Actelion has built an attractive, growing business with world-class commercial and clinical development capabilities.”
“Adding Actelion’s portfolio to our already strong Janssen Pharmaceuticals business is a unique opportunity for us to expand our portfolio with leading, differentiated in-market medicines and promising late-stage products. We expect to leverage our established global presence and commercial strength to accelerate growth and patient access to these important therapies. Further, we believe R&D NewCo will be strongly positioned to continue Actelion’s legacy of innovation and look forward to collaborating on the development of cutting-edge new therapies,” Gorsky added.
Johnson & Johnson to Purchase Actelion for $30 Billion last edit: 2017-02-01T16:37:46+00:00 da