Johnson & Johnson Completes Acquisition of Actelion

Actelion Pharmaceuticals Ltd / Johnson & Johnson Completes Acquisition of Actelion . Verarbeitet und übermittelt durch Nasdaq Corporate Solutions. Für den Inhalt der Mitteilung ist der Emittent verantwortlich. Source: Globenewswire

ALLSCHWIL/BASEL, SWITZERLAND - 16 June 2017 - Actelion Ltd (SIX: ATLN) today announced the completion of the acquisition of Actelion Ltd by Johnson & Johnson for a total purchase price of approximately $30 billion in cash. The acquisition was completed through an all-cash public tender offer by Johnson & Johnson's Swiss subsidiary, Janssen Holding GmbH, to acquire all publicly held shares of Actelion Ltd for $280 per share, payable in U.S. 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 (SIX:IDIA). Shares of Idorsia were distributed to Actelion's shareholders as a stock dividend and will begin trading on the SIX Swiss Exchange today. As previously announced, a subsidiary of Johnson & Johnson will initially hold 9.9 percent of the shares of Idorsia and, subject to certain limitations, will have the right to an additional 22.1 percent of Idorsia's outstanding equity through a convertible note. A subsidiary of Johnson & Johnson also has an option on ACT-132577, a compound in development for resistant hypertension for which the phase 2 clinical results were recently announced. Together, these agreements with Idorsia provide Johnson & Johnson with additional sources of innovation and value.

As of today, 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 as of today.