ARTICLE | Company News

Actelion sinks after J&J ends deal talks

December 15, 2016 1:22 AM UTC

Actelion Ltd. (SIX:ATLN) lost CHF19.20 to CHF189.30 on Wednesday, shedding about CHF2.1 billion ($2 billion) in market cap, after Johnson & Johnson (NYSE:JNJ) said late Tuesday that it has ended discussions with the Swiss biotech about a potential deal (see BioCentury Extra, Dec. 13).

Early Wednesday, Actelion said it is "engaged in discussions with another party regarding a possible strategic transaction." Media reports named Sanofi (Euronext:SAN: NYSE:SNY) as a possible buyer. Actelion declined to comment on the discussions, and Sanofi did not respond to inquiries. ...