Johnson & Johnson agrees takeover of Actelion for $30bn

Johnson & Johnson, the world's biggest healthcare company, has agreed to acquire Europe’s biggest biotech company, Switzerland-based Actelion, for $30bn in cash.

The $280-per-share deal involved spinning off Actelion’s R&D unit into a standalone company that would be listed in Switzerland and where Johnson & Johnson will initially hold a 16% stake.

US-based J&J initially abandoned talks due to a disagreement over the price, before exclusive talks were restarted a week later.

“We believe this transaction offers compelling value to both Johnson & Johnson and Actelion shareholders,” said J&J chairman and CEO Alex Gorsky.

"We expect to leverage our established global presence and commercial strength to accelerate growth and patient access to these important therapies. Further, we believe R&D NewCo will be strongly positioned to continue Actelion’s legacy of innovation and look forward to collaborating on the development of cutting-edge new therapies.”

Actelion counterpart Jean Pierre Garnier said: “I’m very proud that we have created such a unique value proposition through this structured transaction. Actelion’s shareholders can monetize their holdings in Actelion at a highly attractive cash price of $280 per share, while at the same time retaining a significant stake in the future potential upside of Actelion’s earlier stage pipeline, through their ownership of R&D NewCo.”