Biotech Values

[Titan V]

JNJ to Buy Actelion for $30 billion, Spin Out R&D Unit
https://www.thestreet.com/story/13967242/1/johnson-amp-johnson-to-buy-actelion-for-30-billion-spin-out-r-amp-d-unit.html

Johnson & Johnson (JNJ) said Thursday it will purchase Swiss biotech Actelion Pharmaceuticals (ALIOY) for $30 billion and plans to spin out the company's research and development unit into a separate business.

J&J will pay $280 per share for the Allschwil, Switzerland-based group, which is the Swiss franc equivalent of Sfr280.08 per share, the companies said in a statement. Once the R&D unit is spun out, Actelion shareholders will receive a one-for-one holding in the new company as a dividend. The deal was unanimously approved by both boards, the statement said.