US healthcare giant Johnson & Johnson has offered concessions in a bid to address EU antitrust concerns over its $30 billion bid for Swiss biotech company Actelion (ATLN.S), the European Commission said on Thursday.
The EU competition enforcer extended its review of the deal to June 12 from May 24, according to a filing on its website. It did not provide details. Johnson & Johnson put in the offer on Wednesday.
The deal, the biggest in the European pharmaceutical industry in 13 years, would give J&J access to Actelion’s range of high-price, high-margin medicines for rare diseases, helping it diversify its drug portfolio as its biggest product, Remicade for arthritis, faces cheaper competition.
The Commission is expected to seek feedback from consumers and rivals before deciding whether to accept the offer, demand more or open a four-month long investigation.
Full Content: Euro News
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