Advertisement
Singapore markets close in 3 hours 20 minutes

  • Straits Times Index

    3,173.59
    -14.07 (-0.44%)
     

  • Nikkei

    37,104.00
    -975.70 (-2.56%)
     

  • Hang Seng

    16,174.36
    -211.51 (-1.29%)
     

  • FTSE 100

    7,877.05
    +29.06 (+0.37%)
     

  • Bitcoin USD

    61,894.05
    +425.12 (+0.69%)
     

  • CMC Crypto 200

    1,282.38
    +396.84 (+43.39%)
     

  • S&P 500

    5,011.12
    -11.09 (-0.22%)
     

  • Dow

    37,775.38
    +22.07 (+0.06%)
     

  • Nasdaq

    15,601.50
    -81.87 (-0.52%)
     

  • Gold

    2,397.50
    -0.50 (-0.02%)
     

  • Crude Oil

    84.70
    +1.97 (+2.38%)
     

  • 10-Yr Bond

    4.6470
    +0.0620 (+1.35%)
     

  • FTSE Bursa Malaysia

    1,551.42
    +6.66 (+0.43%)
     

  • Jakarta Composite Index

    7,063.10
    -103.72 (-1.45%)
     

  • PSE Index

    6,420.50
    -102.69 (-1.58%)
     

Actelion says R&D company will launch with 1 billion Swiss francs cash

Reuters

ZURICH (Reuters) - Actelion (ATLN.S) said the new research and development company to be created following the $30 billion takeover by Johnson & Johnson (JNJ.N) will be launched with 1 billion Swiss francs (789.95 million pounds)in cash.

The unit will be spun out into a standalone company based and listed in Switzerland and will be led by Actelion Chief Executive and founder Jean-Paul Clozel, with Johnson & Johnson taking a 16 percent stake with rights to another 16 percent via a convertible note.

(Reporting by John Revill)