Johnson & Johnson has completed its previously announced acquisition of Actelion, a Swiss pharmaceutical company specializing in products for treating pulmonary arterial hypertension, for a total purchase price of approximately $30 billion.

The acquisition was completed through an all-cash public tender offer by Johnson & Johnson’s Swiss subsidiary, Janssen Holding GmbH, to acquire all publicly held shares of Actelion Ltd for $280 per share, payable in US dollars. Actelion will now become part of the Janssen Pharmaceutical Companies of Johnson & Johnson.

In connection with the completion of the public tender offer, Actelion has spun off its drug-discovery operations and early-stage clinical development assets into a newly created Swiss biopharmaceutical company, Idorsia Ltd. A subsidiary of Johnson & Johnson will initially hold 9.9% of the shares of Idorsia and, subject to certain limitations, will have the right to an additional 22.1% of Idorsia’s outstanding equity through a convertible note. A subsidiary of Johnson & Johnson also has an option on ACT-132577, a compound in development for resistant hypertension for which the Phase II clinical results were recently announced.

Johnson & Johnson expects the acquisition of Actelion to add approximately $1.3 billion in sales for 2017.

Source: Johnson & Johnson