Since Swiss biotech Actelion (SIX: ATLN) confirmed that it was the subject of a takeover bid by US health care giant Johnson & Johnson (NYSE: JNJ) on Friday, the eyes of the pharma world have been firmly fixed on the Basel-based company.
Shares in Actelion rocketed by an initial 17% on the news on Friday, and on Tuesday they surged up a further 10% to close at 209 Swiss francs, just off a record high, following news of a higher offer, which was reported by Reuters.
"The story of Roche-Genentech, where Roche took 60% of Genentech, left it to be more or less independent, then acquired the rest of the shares 19 years later, is a helpful precedent, particularly as many Actelion executives are ex-Roche"
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