Deals
Sanofi, Actelion Under Pressure for Deal After Past Failures
- Actelion’s talks with J&J ended over price, deal structure
- Sanofi looking for target after getting outbid on Medivation
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The shadows of recent deal failures will loom large as executives from European drugmakers Sanofi and Actelion Ltd. work this week to hash out an agreement.
Sanofi Chief Executive Officer Olivier Brandicourt lost cancer-drug maker Medivation to Pfizer Inc. in August after months of public pursuit. And Actelion CEO Jean-Paul Clozel turned down Johnson & Johnson, leading some investors to question whether his desire to retain control over the company he built got in the way of a transaction that would have brought a 67 percent premium for shareholders since the talks were first reported.