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Can Actelion Founder Clozel Recreate Another Top Biotech Post-J&J Sale?

 
• By Sten Stovall

Actelion's M&A deal with J&J vindicates the strategy of cardiologist Jean-Paul Clozel, who co-founded the Swiss firm with his wife Martine and friends in 1997, and positions him for another shot at biotech success.

CEO of Actelion Jean-Paul Clozel
Actelion Founder Jean-Paul Clozel • Source: Actelion Pharmaceuticals Ltd.

When outlining his complicated $30bn M&A transaction with Johnson & Johnson on Jan. 26, Jean-Paul Clozel reminisced on how close Actelion Pharmaceuticals Ltd. shareholders had come to exiting too early in 2011 when activist shareholder Elliott Advisors had tried to take control of the Swiss biotech at a much lower stock price.

Contrasting the agreed offer from J&J to pay $280 per share for Actelion – following weeks of exclusive talks – Clozel reminded reporters when announcing the transaction that shareholders in the Swiss biotech would have sold out at a

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