BIOTECHNOLOGY PROSPECTUS
Sanofi backtracked on Actelion deal amid J&J talks
The biotech compnay has emerged as the interloper that derailed Actelion’s bid to sell itself to Johnson & Johnson
Paris/London — It turns out Sanofi’s proposal to buy Swiss biotechnology company Actelion late in 2016 was not quite as compelling as it first seemed. Actelion, in the middle of talks to sell itself to Johnson & Johnson (J&J), received an approach in early December from another bidder, identified as Company A, that was willing to pay a higher price than J&J had then offered, according to a prospectus published on Thursday by J& J for its purchase of the Swiss company. The interloper was Sanofi, people familiar with the matter said at the time. Actelion’s board decided to consider the new offer and chairman Jean-Pierre Garnier informed J&J CEO Alex Gorsky, who said the US company was not willing to match Company A’s price, the filing says. Actelion and J&J said on December 14 they had ended discussions.
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