Johnson & Johnson announced that all regulatory approvals required to complete its $30 billion Actelion acquisition have now been received.
J&J expects settlement of the all-cash public tender offer for the Swiss biotech firm, made by J&J's Swiss subsidiary, Janssen Holding, on June 16.
The European Commission approved the acquisition, subject to conditions ensuring that clinical development of their innovative insomnia drugs will not be adversely affected by the merger. Per the Commision's request, Actelion's insomnia research programm will be transferred before the merger to Idorsia, a newly created company in which Johnson & Johnson would have a minority shareholding of up to 32%.
Read the European Commission press release