Acte­lion shares up on J&J in­ter­est

The Myanmar Times - - Business -

SHARES in Swiss biotech firm Acte­lion shot nearly 17 per­cent higher as it con­firmed it had been ap­proached by John­son & John­son about a pos­si­ble buy­out.

In a brief state­ment, Europe’s largest biotech firm “con­firmed that it has been ap­proached by John­son & John­son about a pos­si­ble trans­ac­tion”, adding that there was no cer­tainty a trans­ac­tion would be com­pleted.

The US com­pany mean­while said “it is en­gaged in pre­lim­i­nary dis­cus­sions with Acte­lion Phar­ma­ceu­ti­cals Ltd. re­gard­ing a po­ten­tial trans­ac­tion”, and would make no fur­ther com­ments un­til it was ap­pro­pri­ate to do so.

John­son & John­son shares rose 0.8pc to US$114.01 in mid­day trad­ing in New York.

Acte­lion shares soared in Zurich to close 16.8pc higher at 184.50 Swiss francs.

Based in Allschwil out­side the city of Basel, Acte­lion spe­cialises in rare dis­eases and earns most of its rev­enue from treat­ments for pul­monary ar­te­rial hy­per­ten­sion. –

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