Johnson & Johnson (J&J) has completed the acquisition of Actelion Pharmaceuticals for approximately $30bn in an all-cash transaction through its Swiss subsidiary Janssen Holding.
The European Commission has approved the acquisition, which was notified on 12 April, under the EU merger regulation on 9 June.
The deal is expected to expand Janssen’s portfolio with Actelion PAH franchise’s differentiated in-market medicines and late-stage therapies such as Opsumit, Uptravi and Tracleer.
According to J&J Pharmaceuticals executive vice-president and worldwide chairman Joaquin Duato, the transaction establishes a sixth therapeutic area for the company, aiding in the bolster of medical innovation for serious illnesses and unmet medical needs.
J&J chairman and CEO Alex Gorsky said: “We are very pleased to complete this compelling transaction and look forward to the value it will create for Johnson & Johnson and for patients around the world suffering from pulmonary arterial hypertension (PAH) and other serious illnesses.
“Adding Actelion to our already strong pharmaceutical business expands our portfolio with leading, differentiated in-market medicines and promising late-stage products.”
Actelion has divested, in connection with the completion of the transaction, its discovery operations and early stage clinical development assets to new Swiss biopharmaceutical firm Idorsia.
J&J will hold 9.9% of the shares in Idorsia through one of its subsidiaries.
The firm further exercises a right to an additional 22.1% of Idorsia’s outstanding equity and option on an investigational product ACT-132577 currently being developed for resistant hypertension.