The company said: “No further statement will be made until such time Actelion deems appropriate to make an announcement.”
There is no clarity about price Sanofi is willing to pay for the acquisition, but citing people familiar with the matter, the Wall Street Journal reported that agreement could value Actelion at about $30bn.
Johnson & Johnson made an offer valued at about $260 per share, or over $28bn.
The company backed off after failing to reach an agreement that would create adequate value for its shareholders
Actelion, which was established in late 1997, is engaged in the discovery, development and commercialization of drugs for diseases with significant unmet medical requirements.
The company’s pulmonary arterial hypertension portfolio includes the spectrum of disease, from WHO Functional Class (FC) II through to FC IV, with oral, inhaled and intravenous medications.
Although not available in all countries, the company’s treatments secured approval from health authorities for several specialist diseases including Type 1 Gaucher disease, Niemann-Pick type C disease, Digital Ulcers in patients suffering from systemic sclerosis, and mycosis fungoides type cutaneous T-cell lymphoma.
The company employs more than 2,500 people covering all key markets globally including Europe, the US, Japan, China, Russia and Mexico.
Image: Sanofi building. Photo: courtesy of Sanofi.