Johnson & Johnson strikes $30bn deal

US healthcare giant Johnson & Johnson (J&J) has reached agreement to buy Swiss biotech company Actelion in a $30bn (€28bn) all-cash deal that includes spinning off Actelion’s research and development pipeline, the companies said yesterday.

The biggest European drugs takeover in 13 years gives J&J access to the Swiss group’s range of high-price, high-margin medicines for rare diseases, helping it diversify its drug portfolio as its biggest product, Remicade for arthritis, faces cheaper competition.

The offer to pay $280 per share, following weeks of exclusive talks, was unanimously approved by the boards of directors of both companies.