Sector News

Actelion CEO says has received no takeover approaches

October 21, 2014
Life sciences
(Reuters) – Actelion has received no takeover bids from interested parties, the company’s chief executive said on Tuesday.
 
Analysts have in the past touted Actelion as a potential takeover target, since its healthy pipeline drugs to treat pulmonary arterial hypertension could draw U.S. bidders seeking to lower their tax bill by moving their tax base to Switzerland, a tactic known as inversion.
 
But last month’s rule changes by the U.S. Treasury Department aimed at curtailing such deals has prompted several pharmaceutical companies, including AbbVie, to ditch original M&A plans.
 
Asked by Reuters whether Actelion has been approached by any interested parties, the company’s Chief Executive Jean-Paul Clozel said, “No.”
 
Speaking after Actelion published third-quarter results that beat expectations, Clozel said the biotech firm wanted to increase shareholder returns and grow ahead of the market at the same time.
 
(Reporting by Caroline Copley)

Related News

September 23, 2020

Novartis, Siemens to develop blood tests for multiple sclerosis

Life sciences

Siemens Healthineers has inked what it describes as a “master collaboration agreement” with Novartis to help provide diagnostic tests linked to therapies across the drugmaker’s pipeline. To start, the companies […]

September 22, 2020

GSK’s Zejula and AZ’s Lynparza leap toward broader EU approval

Life sciences

GlaxoSmithKline’s Zejula and AstraZeneca’s Lynparza have both moved towards EU approval in new indications after receiving positive opinions from the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human […]

September 22, 2020

Roche acquires Irish biotech firm Inflazome

Life sciences

Swiss pharma company Roche is set to acquire Irish biotech firm Inflazome for an upfront payment of $449m (€380m). In addition to the upfront payment, Inflazome is also eligible to […]