And then there were two: Janssen bows out of Hori­zon takeover ne­go­ti­a­tions

Hori­zon Ther­a­peu­tics an­nounced last week that it was in talks with three phar­ma­ceu­ti­cal gi­ants that could take over the com­pa­ny. You can now re­move one of them from the equa­tion.

J&J’s Janssen, af­ter Hori­zon re­port­ed its ini­tial in­volve­ment in ear­ly dis­cus­sions to ac­quire the rare dis­ease biotech, is­sued a state­ment Sat­ur­day that said Janssen “does not in­tend to make an of­fer for Hori­zon,” and that Janssen is bound by re­stric­tions set in Rule 2.8 of the Irish Takeover Rules. These rules are in place for any com­pa­ny in­ter­est­ed in tak­ing over Irish com­pa­nies, with Hori­zon Ther­a­peu­tics cur­rent­ly based in Dublin.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER