Johnson & Johnson says to buy pharma group Actelion for $30b
US pharmaceuticals giant Johnson & Johnson on Thursday announced it was buying Europe's biggest bio-pharmaceutical firm, Switzerland's Actelion, for $30 billion (27.9 billion euros) in a deal that creates a new spin-off company.
The deal between the world's biggest producer of healthcare goods and Actelion, a leader in medicines treating high blood pressure, will create a new Swiss-listed firm called R&D NewCo focusing on the research and development of new drugs, the two companies said in a joint statement.
Johnson & Johnson will acquire all the outstanding shares of Actelion for $280 per share in a deal approved by the boards of both companies, with the tender offer to start by mid-February.
Actelion CEO Jean-Paul Clozel said the new R&D company would "allow us to continue with our successful culture of innovation", while Johnson & Johnson's CEO and chairman Alex Gorsky said in a statement that the acquisition of Actelion offered "compelling value" to shareholders in both companies.
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