Was Sanofi’s Offer One That Actelion Could Refuse? J&J Back At Bargaining Table
Johnson & Johnson is back at the M&A bargaining table with Actelion after walking away from negotiations a week ago, raising questions about whether Sanofi’s deal terms were harder to digest than J&J’s.
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In this tale of two companies, it's the best of times and the best of times. J&J gets immediate value by acquiring Actelion's blockbuster PAH franchise and its late-stage pipeline, while its stake in an Actelion spinout offers longer-term potential.
Scrip offers some key points to watch for as Johnson & Johnson and Novartis kick off the big pharma full-year presentations Jan. 24, with Bristol-Myers Squibb, Celgene and Biogen Idec finishing off the first week of earnings season.
Big pharma is poised to dominate deal-making this year while the firepower of specialty pharma to do deals has waned. 2017 could be a record year for M&A, EY predicts in its annual M&A Outlook and Fire Power Report.