BioCentury
ARTICLE | Financial News

J&J exits Achillion, Achillion pockets $50.5M

December 1, 2017 9:49 PM UTC

Achillion Pharmaceuticals Inc. (NASDAQ:ACHN) raised $50.5 million through the sale of 18.4 million shares at $2.75 per share by existing stockholder Johnson & Johnson (NYSE:JNJ) in a public offering underwritten by Goldman Sachs & Co. LLC and Leerink Partners LLC. The shares represent all of J&J's 13.3% stake in Achillion. The price is a 9% discount from Achillion's close of $3.03 on Nov. 15, before it priced the offering after hours...