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Johnson & Johnson on Thursday announced it would acquire Swiss biotech Actelion for $30 billion in cash, opening up its wallet to secure Actelion's leading portfolio of treatments for pulmonary arterial hypertension (PAH).
Access to Actelion's drugs Tracleer, Opsumit and Uptravi, which all treat life-threatening pulmonary arterial hypertension, will make J&J a leader in treating the condition and help it expand beyond autoimmune, heart and cancer drugs.
As part of the largest European takeover in 13 years, Actelion will spin off its research and development unit into a standalone company to be based and listed in Switzerland, under the working title of R&D NewCo. "I don't see Sanofi stepping in with a higher offer at some point, that doesn't make sense any more", he added.J&J will initially hold a 16 percent stake in R&D NewCo and will have rights to an additional 16 percent of the company's equity through a convertible note. It'll also have rights to a drug candidate being developed by the drug discovery unit. By using offshore cash to pay for the acquisition, J&J is also taking steps that might lower its future tax bills as Congress eyes an overhaul of the US tax code. The U.S. behemoth expects the deal to boost its long-term profit growth by as much as 2 percent over analysts' expectations. The transaction is expected to close by the end of the second quarter, with J&J commencing the tender offer by mid-February.
The agreement means that the American pharmaceutical company will pay $280 per share for the Swiss biotech. J&J ended Wednesday at $112.80 in NY, capping an 11.5% increase in the past year.
Westbrook says he is not on speaking terms with Durant
Thompson's excellent defense on Westbrook and Green's usual lock-down effort against everyone else sparked the Warriors' attack. It is safe to say that Westbrook did not take too kindly to the taunt by Pachulia as he added "I'm gonna get his ass back".
"In making this offer, Johnson & Johnson is recognizing all that has been created at Actelion during the last 20 years, and in particular the quality of our PAH franchise, the potential of our key marketed medicines and our promising late-stage development assets".
Actelion shares had risen 20.3 percent to 273.6 Swiss francs as of 0945 GMT on January 26. However, Johnson & Johnson withdrew from the discussions in mid-December, and Sanofi approached Actelion about a deal. The two companies will host a Webcast/conference call to discuss the acquisition at 8 a.m. ET today here. The CEO is a believer in Actelion's pipeline of experimental medicines, and he and his wife have resisted takeover bids through the years.
'Achhe Din' Will Come When Cong Back In Power, Says Rahul
Rahul also poked fun at Modi's oft-used catch-phrase " mitron " to deliver a Bachchan style take down of the prime minister. The world over, the Congress leader said, economists are ridiculing India for Modi's decision to scrap high-value notes.
Lazard acted as lead financial advisor to J&J, while Bank of America Merrill Lynch was Actelion's lead advisor. Cravath, Swaine & Moore LLP, Homburger AG and SextonRiley LLP are J&J's legal advisers. Legal advisers to Actelion are Niederer Kraft & Frey; Wachtell, Lipton, Rosen & Katz; and Slaughter and May.
Capcom has successfully reinvented Resident Evil in the past, the most notable deviation being the brilliant Resident Evil 4. Per the reviews, you can expect to get lost and stuck in a puzzle while fearing for your dear life.
Sheriff's deputies discovered the candy-covered County Highway S in Beaver Dam, Wis., shortly before 9 p.m. Thousands of Skittles fell off the back of a flatbed pickup truck and spilled onto a highway in Wisconsin.
When Dominque Alexis chose to confront Viall about his lack of attention to her, he said he wasn't feeling it and sent her home. According to Reality Steve , Corinne will wear a whipped cream bikini and have Nick lick it off during the cocktail party.
However, most neutrals will hope for a showdown between two legendary players suddenly rediscovering their form of five years ago. Lucic-Baroni upset third-seed Agnieszka Radwanska this fortnight and another grand slam finalist, Simona Halep, twice at majors.
Sane threatened with a header that flew wide, and Aguero drew an excellent save from Lloris after a great cross from De Bruyne. Jesus is nearly the saviour as he turns in a cross-cum-shot at the back post but it's ruled out for offside.
It said one of the first firefighters to be reached had demanded to be let back inside to save his colleagues. Sniffer dogs searched for signs of survivors buried under giant slabs of concrete and heaps of twisted metal.
Rivera was convicted in the '80s for his involvement in F.A.L.N., the Spanish acronym for the Armed Forces of National Liberation. The protocol protects Lopez Rivera for being a person arrested in conflict against colonial occupation.
The U.S. peso has fallen steeply in tandem with Trump's threats to build a border wall and tax Mexican imports. Trump has pledged to renegotiate the three-nation trade agreement and slap tariffs on imports.
Johnson reportedly is expected to hand Jets team control to his younger brother, Christopher Wold Johnson. The news likely means that Johnson will turn day-to-day operations of the Jets over to someone else.
That is usual at this time of year but until he changes his attitude, he is out of the team and he's not going to train with us. It was the most united the club has felt all season, as first team coach Edin Terzic astutely wrote in a tweet after the match.
Etihad CEO Hogan to quit as carrier struggles with investments
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Tesla Just Rolled Out its Autopilot Update to All HW2 Cars
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Inside the hotel, they found a scene of utter destruction as the weight of the snow collapsed the roof down to the ground floor. The region is still recovering from a series of earthquakes and aftershocks in August that killed more than 200 people.
Facebook temporarily blocked RT - and Moscow isn't happy
The organization that supposedly sent the copyright notice, Current Time TV , reportedly told RT that they did no such thing. A Facebook spokesperson said in a statement to VICE News that "all the features for this page owner have now been restored".
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A previous study based on the same samples also showed the moon formed early, within 68 million years of the solar system's birth. Perets, who added that, "a previously formed moon could therefore already exist when another moon-forming giant impact occurs".