Europe's largest biotech confirms takeover bid from US health care giant

25 November 2016

Shares in Swiss biotech firm Actelion (SIX: ATLN) soared by 17% to $182.18 on Friday, when the company confirmed it had been approached by US healthcare giant Johnson & Johnson (NYSE: JNJ) about a possible takeover.

News that the approach had taken place was first reported by the news service Bloomberg, which revealed that deliberations were still at an early stage after an initial offer, with Actelion was said to be working with an adviser to explore options.

The Swiss lung disease specialist, seen as Europe’s largest biotech, has been touted as an attractive takeover target for big pharma for some time, despite its chief executive Jean-Paul Clozel saying previously that the company expected to remain independent.

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