J&J Woos Billionaire Doctors Who Don’t Need Cash in Actelion Bid
- Actelion CEO Clozel says he has little interest in selling
- “It’s not a question of money. We have enough money.”
Sanofi Said to Weigh Actelion Bid Challenging J&J
Jean-Paul and Martine Clozel represent the dream of just about every pharmaceutical researcher. After the multinational that employed them declined to pursue a compound they discovered, the Clozels founded a company to develop the drug. That startup birthed a blockbuster that has improved the lives of heart patients worldwide -- and the Clozels became billionaires in the process. For Johnson & Johnson, they’re a problem.
The Clozels’ company is Actelion Ltd., a Swiss biotech for which J&J has offered more than $27 billion, according to a person familiar with the talks. The Clozels rejected an earlier, lower proposal, and while the people say negotiations are continuing and J&J has been given access to Actelion’s financial details, Jean-Paul Clozel has made no secret of his lack of enthusiasm for selling out.