Healthcare giant Johnson & Johnson has announced the acquisition of Actelion for US$30 billion, and that it will spin out a new R&D company that will be based and listed in Switzerland. This move will strengthen J&J’s pharma portfolio Janssen with Actelion’s rare disease treatment portfolio.
Actelion shareholders will receive US$280 per share and shares in the new R&D company. Johnson & Johnson will initially hold 16 percent of the company with the option to purchase a further 16 percent. The company will launch with CHF1 billion and will be led by Actelion’s current CEO Jean-Paul Clozel and Chairman Jean Pierre Garnier, who will retain their positions in the spin out.
The deal still requires the approval of Actelion shareholders in selling at least 67 percent of their shares, in addition to agreeing to the spin out.