J&J sets out to build a new R&D group after a $1B biotech christening
A sizable new biotech was born today, complete with a public listing, pipeline, $1 billion in the bank and experienced management team all in place. And they have a Big Pharma partner/investor in their corner as well, which will now start growing up a new pipeline of its own.
The biotech is Idorsia, which started trading on the Swiss exchange at 10 Swiss francs and then shot up 30%. And of course the pharma partner is J&J, which has now formally finished the acquisition of Actelion for $30 billion, spawning a new business unit — its sixth — with plans to start building out its late-stage work in pulmonary arterial hypertension with a fully fledged discovery and early research team working on next-gen products.
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.