Deals
Actelion Founder’s $1.5 Billion Payday Gives Him Shot at More
- CEO and team will keep risky parts of pipeline in new company
- New company could be worth $1-2 billon, analyst estimates
Why J&J Is Buying Actelion for $30 Billion
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After pocketing $1.5 billion from selling Actelion Ltd., co-founder and Chief Executive Officer Jean-Paul Clozel gets to return to his roots with a shot at another payday.
Clozel and his team will keep the riskier portions of Actelion’s pipeline after selling the rest of the Swiss biotech to Johnson & Johnson for $30 billion under the terms of a deal announced Thursday. The experimental treatments -- drugs that are yet to go through the most exacting stages of clinical tests and regulatory scrutiny -- will be spun off into a new Swiss biotech that Clozel will helm.