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Clozel's CHF1bn Actelion Spin-Out Idorsia Awaits Janssen Buy-In

Executive Summary

Upon completion of Johnson & Johnson's $30bn acquisition of Actelion, Jean-Paul Clozel, the latter's outgoing CEO, aims to build a new European biopharma big-hitter – Idorsia – with the earlier-stage assets Actelion leaves behind. He's hoping that J&J's Janssen will soon opt in to rights to its lead candidate. Idorsia is preparing to launch onto the Swiss Stock Exchange with CHF1bn in cash at inception.

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