J&J completes $30bn Actelion acquisition

Friday, 16. June 2017 07:34

Johnson & Johnson announced on Friday it has completed the acquisition of Swiss biopharmaceutical company Actelion Ltd in a $30 billion cash deal. Actelion will now become a part of J&J's subsidiary Janssen Pharmaceutical Companies. 

"Adding Actelion to our already strong pharmaceutical business expands our portfolio with leading, differentiated in-market medicines and promising late stage products," J&J CEO Alex Gorsky said. Executive Vice President Joaquin Duato added that "through this transaction, Janssen will establish a sixth therapeutic area that will be a growth engine for us as our combined team builds on the market-leading position of Actelion's therapies."

In connection with the deal, the Actelion has created a spin-off firm, Idorsia, for its drug discovery and early-stage clinical development assets. Idorsia will start trading on the SIX Swiss Exchange today. Its shares were distributed to Actelion shareholders as a stock dividend, while J&J will initially hold 9.9% of the newly created company's stock.

Related Links: Actelion Pharmaceutical LtdJohnson & Johnson
Author:
Baha Breaking the News (BBN) / NP