JNJ buys rare-disease drugmaker for 30 billion. Th

JNJ buys rare-disease drugmaker for 30 billion. This is from a NY Times email so I can't provide a link. Note that JNJ is worried that their current blockbuster product "is facing cheaper competition." Hmm. Maybe they should be looking at other drugs to add to their pipeline....

Quote:

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The health care giant, Johnson & Johnson, will buy the Swiss biotechnology company, Actelion, for $30 billion in cash.
As part of the deal, Actelion’s research and development unit will be spun off into a standalone company based in Switzerland and led by Actelion’s founder and chief executive, Jean-Paul Clozel.
Johnson & Johnson has bought access to a line of high-price, high-margin medicines for rare diseases — Actelion is a leader in the treatment of pulmonary arterial hypertension, a form of high blood pressure. Johnson & Johnson’s biggest product, a drug for arthritis, is facing cheaper competition.

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