Planned acquirer Johnson & Johnson (JNJ +0.2%) is breathing a bit easier after the European Medicines Agency (EMA) approved the continued prescribing of Actelion's (OTCPK:ALIOF +0.7%) PAH med Uptravi (selexipag). In January, the agency initiated a review of the drug's safety after France's drug regulator reported five patient deaths there. The inquiry did not identify a link between the deaths and the drug.
Uptravi is Actelion's #3 seller, accounting for ~10% of the company's 2016 sales of CHF2.4B.
J&J's $30B bid for the company should close in Q2.
Now read: Johnson & Johnson: Betting On Growth »