Sanofi reportedly considers counter offer for Actelion
Sanofi is considering a bid for Actelion, potentially challenging a move by health care giant Johnson & Johnson to acquire Europe’s largest biotechnology firm, people familiar with the matter said.
The talks are progressing after the U.S. drugmaker increased its offer, people familiar with the matter said Friday, increasing the pressure on potential counter-bidders to move quickly.
In addition to Sanofi, advisers seeking work with prospective buyers have contacted other drugmakers, including Roche Holding of Switzerland and Pfizer, to gauge potential interest in bidding for Actelion, the people said.
Novartis CEO Joe Jimenez ruled out a counter offer for Actelion in an interview with SonntagsBlick newspaper published Sunday, saying that the Swiss drugmaker is focused now on acquisitions of less than $5 billion.
Sanofi lost out on a deal to buy San Francisco biotech firm Medivation this year, giving rival Pfizer a blockbuster prostate-cancer treatment, Xtandi.