Thrifty White rolls out diabetes support program
Johnson & Johnson to buy Actelion for $30B
NEW BRUNSWICK, N.J. — Johnson & Johnson will buy Switzerland-based Actelion for $30 billion, or $280 per Actelion share. As part of the transaction, Actelion will spin off its drug discovery operations and early-stage clinical development assets into a newly created company to its shareholders in the form of a dividend immediately prior to the deal closing.
According to J&J, the transaction, which was unanimously approved by both companies’ board of directors, is expected to be immediately accretive to its adjusted earnings per share and accelerate J&J’s revenue and earnings growth rates.
Actelion has a franchise of differentiated products for pulmonary arterial hypertension that J&J said is highly complementary to its existing portfolio of its Janssen Pharmaceutical Cos. J&J stated it expects to retain Actelion’s Switzerland presence.
“We believe this transaction offers compelling value to both Johnson & Johnson and Actelion shareholders,” said Alex Gorsky, chairman and CEO of Johnson & Johnson. “Actelion has built an attractive, growing business with world-class commercial and clinical development capabilities. Adding Actelion’s portfolio to our already strong Janssen Pharmaceuticals business is a unique opportunity for us to expand our portfolio with leading, differentiated in-market medicines and promising late-stage products. We expect to leverage our established global presence and commercial strength to accelerate growth and patient access to these important therapies.”
“I’m very proud that we have created such a unique value proposition through this structured transaction,” said Actelion Chairman Jean Pierre Garnier. “Actelion’s shareholders can monetize their holdings in Actelion at a highly attractive cash price of $280 per share, while at the same time retaining a significant stake in the future potential upside of Actelion’s earlier stage pipeline, through their ownership of R&D NewCo [the company Actelion will spin off to shareholders].”
Drug Store News reported on Dec. 29 that a J&J-Actelion deal could split the latter company into two companies.
Aurobindo earns FDA approval for multiple sclerosis generic
EAST WINDSOR, N.J. — The U.S. Food and Drug Administration approved Aurobindo Pharma’s Dalfampridine Extended-Release tablets, 10 mg, intended for treatment of multiple sclerosis.
The FDA’s Division of Bioequivalence determined the Aurobindo drug to be bioequivalent, and therefore therapeutically equivalent to the referenced listed drug, Amprya from Acorda Therapeutics.
According to QuintilesIMS, the Aurobindo product has an estimated market size of $347 million for the 12 months ended November 2016.
Aurobindo’s portfolio of generic pharmaceuticals includes 256 final FDA approvals, including 39 tentative approvals, and 16 approved products from Aurolife. There are 97 additional product on file with the FDA.