💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

European regulators sign off on J&J's Actelion buy contingent on spin-off of one insomnia program

Published 06/09/2017, 08:07 AM
© Reuters.  European regulators sign off on J&J's Actelion buy contingent on spin-off of one insomnia program
BIIB
-
JNJ
-
  • Regulatory authorities in the EU have approved Johnson and Johnson's (NYSE:JNJ) planned $30B takeover of Actelion after the company pledged to spin-off one of the combined firm's two insomnia pipeline programs.
  • Actelion's insomnia project will be transferred to a new company called Idorsia. J&J has agreed to limit its stake in the new entity to 10% if it is the largest shareholder and 16% if not. It will not nominate a board member and cannot influence its strategy or obtain information on the drug in development.
  • J&J's program with Minerva Neurosciences competes directly with Actelion's. It has granted Minerva new rights over global development and has waived its royalty rights to Minerva sales in Europe.
  • EU regulators saw no problems in the multiple sclerosis space because Actelion's product candidate differs from Biogen (NASDAQ:BIIB)'s that J&J's distributes in part of Europe.
  • Source: Bloomberg
  • Now read: Johnson & Johnson: Not Too Late To Take Chips Off The Table


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.