Swiss biotech firm Actelion Pharmaceuticals (VTX:ATLN) reportedly rejected Johnson & Johnson‘s (NYSE:JNJ) 2nd takeover offer, sending it shares down -6% in afternoon trading yesterday. The 2 companies have been engaged in informal talks for 2 months, according to Reuters, and the latest offer was pegged at 250 Swiss francs per share.
J&J’s $270 billion bid for Actelion tempted shareholders, who would rather have the cash now than wait and bet on Actelion CEO Jean-Paul Clozel’s risky pipeline of therapeutics for rare diseases, 1 investor told the news service.
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