J&J-Actelion Talks Resume: What’s Next for Sanofi?

The transcript discusses the rare resumption of negotiations between Johnson & Johnson and Actelion after previously breaking off talks. It explores why Actelion favors Johnson & Johnson over Sanofi, highlighting issues like contingent value rights and cash offers. The potential deal structures are considered, including the possibility of a transactional relationship rather than a full takeover. Actelion's CEO's past reluctance to sell the company is noted, along with the impact on Sanofi, which has missed out on previous deals. The growing pharmaceutical side of Johnson & Johnson is also mentioned as a key factor in the negotiations.

What was surprising about the recent talks between Johnson and Johnson and Actelion?

What does the willingness to return to the table suggest about the companies involved?

What were the concerns regarding Sanofi in the negotiations?

How did Johnson and Johnson's financial position influence the negotiations?

What impact did the missed Medivation deal have on Satterfield?