Swiss biotech company Actelion opens its door again to prospective bidder Johnson & Johnson for exclusive talks about a ''strategic transaction'', in an about-turn that appears to sideline rival suitor Sanofi. Ivor Bennett reports.
Finding the right remedy isn't always easy. Especially if the patient is picky. But it seems Actelion may have settled on its medicine. The Swiss pharmaceutical firm has said its restarted takeover talks with Johnson and Johnson. Seemingly sidelining rival suitor Sanofi The French firm had apparently been circling after the original talks with J&J broke down last week. The appetite to merge should be no surprise say analysts. Just big pharma living up to its name. SOUNDBITE (English) VICKY PRYCE, CHIEF ECONOMIST, CEBR, SAYING: "You've got to be big. And you've got to be able to access all sorts of markets. And you've got to have enough funds to continue that research which is absolutely essential." Actelion's shares rose 11 percent after the announcement Closing at 215 Swiss francs a share. J&J's original offer was reportedly around 250 a share. But according to a source that wasn't high enough. Neither side has said whether a revised offer's been made. But both caution there is no assurance of a transaction. Sanofi's hopes then maybe not dashed yet.