Sector News

Deal-talkers J&J, Actelion reportedly land on a price, but spinoff details still pending

January 13, 2017
Life sciences

Johnson & Johnson and Actelion are working out a deal that would send the Swiss biotech’s marketed meds to New Jersey.

Johnson & Johnson and Actelion may have finally settled a key condition of their long-discussed transaction.

The pair has landed on a price for the deal, Bloomberg reports, although sources didn’t tell the news service what that price was. Reuters reported earlier this month that J&J was considering a price in the $260-per-share range for Actelion’s marketed meds, a figure that would bring the buy to more than $28 billion.

Now, word has it the companies are hammering out valuations for Actelion’s R&D assets, which would reportedly be spun off into a new company as part of any acquisition. Which products specifically would go into that unit and how much ownership Actelion’s investors would keep are both under negotiation, but sources say the companies could strike a pact as early as this month.

J&J’s courtship of the Swiss biotech has been a long one, in part thanks to Actelion founder and CEO Jean-Paul Clozel’s desire to keep a piece of his company flying solo. Earlier talks hit a snag in December when the pair quit talking—only to restart a week later and force Sanofi, which had entered after J&J threw in the towel, out of the picture.

New Jersey-based J&J, which is seeking revenue growth now that a biosimilar competitor to top med Remicade has arrived in the U.S., has been more or less amenable to Clozel’s desires, though working out the complex deal structure has been slow going.

By Carly Helfand

Source: Fierce Pharma

comments closed

Related News

September 25, 2022

Rise of the machines: Novo Nordisk pledges $200M to create first quantum computer for life sciences

Life sciences

Big Pharma has long seen the potential for AI and machine learning to accelerate drug development. But Novo Nordisk is going a step further by channeling $200 million toward the creation of a computer that will outrun anything in existence.

September 25, 2022

Mount Sinai AI uncovers new brain analysis method to predict dementia, Alzheimer’s disease

Life sciences

Current methods for diagnosing Alzheimer’s disease rely on a complex combination of self- and caregiver-reported symptoms, a physical examination and either a PET scan or a spinal tap to look for evidence of amyloid plaque build-ups in the brain. But a new artificial intelligence-based method may make the diagnostic process a much more objective one.

September 25, 2022

New AstraZeneca-backed report finds big money behind diverse owners and entrepreneurs in Europe

Life sciences

There is lots of talk about diversity and inclusion in business, including in pharma and medtech. A new report by the Open Political Economy Network (OPEN), a think tank focusing on migration and diversity, released its “Minority Businesses Matter: Europe” report highlighting the successes and challenges of ethnic minority-owned businesses in Europe.