J&J completes acquisition of Actelion
Actelion will now become part of the Janssen Pharmaceutical Companies of J&J.
Actelion has announced the completion of the acquisition of Actelion Ltd by Johnson & Johnson (J&J) for a total purchase price of approximately $30 billion in cash. The acquisition was completed through an all-cash public tender offer by J&J's Swiss subsidiary, Janssen Holding GmbH, to acquire all publicly held shares of Actelion Ltd for $280 per share, payable in US dollars. Actelion will now become part of the Janssen Pharmaceutical Companies of Johnson & Johnson.
In connection with the completion of the public tender offer, Actelion has spun off its drug discovery operations and early-stage clinical development assets into a newly created Swiss biopharmaceutical company, Idorsia Ltd. Shares of Idorsia were distributed to Actelion's shareholders as a stock dividend and will begin trading on the SIX Swiss Exchange. A subsidiary of J&J will initially hold 9.9% of the shares of Idorsia and, subject to certain limitations, will have the right to an additional 22.1% of Idorsia's outstanding equity through a convertible note. A subsidiary of J&J also has an option on ACT-132577, a compound in development for resistant hypertension for which the Phase II clinical results were recently announced. Together, these agreements with Idorsia provide J&J with additional sources of innovation and value.
As of 16 June 2017, Actelion's new Board members Ludo Ooms (Chairman), Julian Bertschinger, Claudio Cescato, Pascal Hoorn and Andrea Ostinelli, who were elected at the Annual General Meeting of Actelion's shareholders on 5 April 2017 (AGM 2017) with effect from the date of completion of the public tender offer, assume their office. All incumbent members of Actelion's Board (Jean-Pierre Garnier, Jean-Paul Clozel, Juhani Anttila, Robert J. Bertolini, John J. Greisch, Peter Gruss, Michael Jacobi, Jean Malo, David Stout and Herna Verhagen) had only been elected at the AGM 2017 for a term of office until the date of completion of the public tender offer and will, thus, leave Actelion 16 June 2017.
Immediately following the completion of the public tender offer, Actelion will file petitions with SIX Swiss Exchange for the de-listing of the Actelion shares from SIX Swiss Exchange and for exemptions from certain disclosure obligations under the Listing Rules of SIX Swiss Exchange until the date of de-listing of the Actelion shares. In addition, Actelion has been informed that J&J plans to initiate a squeeze-out of the outstanding publicly held Actelion shares in accordance with applicable law immediately following the completion of the public tender offer. Johnson & Johnson's intention regarding these actions had been disclosed and announced in its public tender offer documents.
Related News
-
News Patients vs Pharma – who will the Inflation Reduction Act affect the most?
The Inflation Reduction Act brought in by the Biden administration in 2022 aims to give better and more equitable access to healthcare in the USA. However, pharma companies are now concerned about the other potential costs of such legislation. -
News CPHI Podcast Series: What does the changing US Pharma market mean for industry and patients alike?
In this week's episode of the CPHI Podcast Series Lucy Chard, Digital Editor for CPHI Online is joined by James Manser to discuss the political and market changes in the US pharma field. -
News CPHI Barcelona Annual Report illuminates industry trends for 2024
The CPHI Annual Survey comes into it’s 7th year to report on the predicted trends for 2024. Over 250 pharma executives were asked 35 questions, with their answers informing the industry landscape for the next year, spanning all major pharma marke... -
News Which 10 drugs are open to price negotiation with Medicare in the USA?
The Centres for Medicare & Medicaid Services, under the Biden administration in the USA, has released a list of the 10 drugs that will be open to price negotiations as part of the new legislation under the Inflation Reduction Act (IRA). -
News EU Medical Devices Regulation causes unintended disappearances of medical devices for children, doctors state
Doctor groups and associations have appealed to the EU to correct the EU Medical Devices Regulation law that may cause unintended shortages of essential drug and medical devices for children and rare disease patients. -
News 10 Major Drug Approvals So Far in 2023
Last year, 37 novel drugs were approved by the FDA, this was a high number for such a category, and covered many fields including oncology, demonstrating how promising further research is, and how it is only continuing to build. To date, there are alre... -
News Detecting Alzheimer's disease with a simple lateral flow test
A novel rapid diagnostic test for early-stage Alzheimer's disease has been developed using a biomarker binder from Aptamer Group along with technology from Neuro-Bio, the neurodegenerative disease experts. -
News CPHI Podcast Series: outsourcing and manufacturing trends
Listen to the CPHI Podcast Series this June to hear Gil Roth of the PBOA speak with Digital Editor Lucy Chard about the biggest trends and topics to watch in pharma outsourcing and manufacturing at the minute.
Position your company at the heart of the global Pharma industry with a CPHI Online membership
-
Your products and solutions visible to thousands of visitors within the largest Pharma marketplace
-
Generate high-quality, engaged leads for your business, all year round
-
Promote your business as the industry’s thought-leader by hosting your reports, brochures and videos within your profile
-
Your company’s profile boosted at all participating CPHI events
-
An easy-to-use platform with a detailed dashboard showing your leads and performance