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Actelion pulls out of health conference amid M&A activity
January 4, 2017 / 3:46 PM / 9 months ago

Actelion pulls out of health conference amid M&A activity

The company's logo is seen at the headquarters of Swiss biotech company Actelion in Allschwil, Switzerland December 6, 2016. Reuters / Arnd Wiegman

ZURICH (Reuters) - Swiss biotech group Actelion (ATLN.S) has canceled a scheduled appearance at next week’s JP Morgan healthcare conference in San Francisco, it said on Wednesday.

A spokesman gave no reason for the move, which comes after Actelion entered exclusive talks with Johnson & Johnson (J&J) (JNJ.N) last month about a possible transaction.

Chief Executive Jean-Paul Clozel has represented Actelion at the high-profile conference in the past, but it was not immediately clear who was set to speak this year.

People familiar with the matter told Reuters last week that J&J was negotiating a deal that would separate Actelion’s commercialized portfolio from its research and development assets. Any deal could emerge by late this month.

The deal structure would allow J&J to acquire Actelion with a cash offer in the region of $260 per share. It also would let Actelion shareholders benefit financially from Actelion’s R&D pipeline, the people said.

Reporting by Paul Arnold; Writing by Michael Shields; Editing by Mark Potter

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