Johnson & Johnson Back in Exclusive Talks for Actelion
December 21 2016 - 12:44PM
Dow Jones News
By Austen Hufford
Johnson & Johnson re-entered acquisition talks with Actelion
Ltd., both companies said Wednesday.
J&J said last week that it had bowed out of the bidding, and
Actelion said that it was "engaged in discussions with another
party" without giving more detail. The Wall Street Journal reported
last week that the party was Sanofi, citing people familiar with
the matter.
Wednesday, J&J said it had entered into "exclusive
negotiations" to the rare-disease drugmaker, indicating that other
potential suitors had left the process. People familiar with the
matter have said a deal could value Actelion at as much as $30
billion.
A representative from Sanofi declined to comment.
Actelion specializes in treatments for a rare disorder known as
pulmonary arterial hypertension. The Swiss drug company reported
revenue of 2.1 billion Swiss francs ($2.1 billion) and a profit of
552 million Swiss francs last year.
Actelion shares rose 6.4% as J&J shares fell 0.4%. Sanofi
shares fell 0.6%.
Write to Austen Hufford at austen.hufford@wsj.com
(END) Dow Jones Newswires
December 21, 2016 12:29 ET (17:29 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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