Actelion shares jump as market looks for next takeover target
SHARES in Actelion jumped again yesterday on new market talk the Swiss biotech group could be the next bid target in the pharmaceuticals sector.
Traders said markets were speculating that GlaxoSmithKline, which has a drug partnership with Actelion, could offer 72 Swiss francs (£47.30) per share. Sanofi-Aventis launched a $18.5bn hostile bid for US biotech Genzyme last week, sparking chatter of more M&A in the sector.
Actelion shares, which had lost nearly a quarter of their value this year, closed up 6.6 per cent at 53 francs, outperforming a 0.5 per cent weaker European healthcare sector index. The stock has gained over 30 per cent this month.
Analysts have cited Amgen, Roche, BristolMyersSquibb, AstraZeneca, Bayer and Novartis as possible buyers.