Johnson & Johnson said the approval of its proposed acquisition of Swiss biotech firm Actelion by the European Commission on Friday meant all regulatory approvals required to complete the $30 billion deal had now been received.
The U.S. company said it expected settlement of the all-cash public tender offer by its Swiss subsidiary, Janssen Holding, on June 16.
EU antitrust regulators on Friday approved Johnson & Johnson’s planned purchase of Actelion subject to conditions intended to ensure clinical development of insomnia drugs were unaffected.
Separately, Actelion said on Friday it had published the prospectus relating to the listing of shares in Idorsia, the spin-off company which will be led by current Actelion Chief Executive Jean-Paul Clozel.
Under the agreement all Actelion shareholders will receive one Idorsia share for each Actelion share held on June 13, 2017 with the new company expected to start trading on the Swiss exchange on June 16.
Idorsia will specialize in the discovery and development of small molecules in multiple therapeutic areas including central nervous system disorders, cardiovascular disorders, immunological disorders and orphan diseases, the company said.
By John Revill
Source: Reuters
Giovanni Caforio, the former CEO of Bristol Myers Squibb, is set to become the next board chairman of Novartis, which on Tuesday proposed the pharmaceutical industry veteran as its pick to replace Joerg Reinhardt in the role next year. Reinhardt has served as Novartis’ chair since 2013 and plans to retire when his 12-year term ends in 2025.
GE HealthCare has raised the curtain on two ultrasound systems equipped with artificial intelligence programs designed to assist in diagnosing conditions in women’s health, including obstetric exams. The Voluson Signature 20 and 18 imaging systems include AI tools capable of automatically identifying and annotating measurements of fetal anatomy.
Scientists from the University of Edinburgh’s School of Chemistry have revealed a new sustainable method of manufacturing complex molecules that could reduce waste produced during drug production. The method published in Nature Chemistry could help to prevent severe side effects caused by drugs that can exist as enantiomers.
