ZURICH (Reuters) - Swiss biotech group Actelion ATLN.S has canceled a scheduled appearance at next week’s JP Morgan healthcare conference in San Francisco, it said on Wednesday.
A spokesman gave no reason for the move, which comes after Actelion entered exclusive talks with Johnson & Johnson (J&J) (JNJ.N) last month about a possible transaction.
Chief Executive Jean-Paul Clozel has represented Actelion at the high-profile conference in the past, but it was not immediately clear who was set to speak this year.
People familiar with the matter told Reuters last week that J&J was negotiating a deal that would separate Actelion’s commercialized portfolio from its research and development assets. Any deal could emerge by late this month.
The deal structure would allow J&J to acquire Actelion with a cash offer in the region of $260 per share. It also would let Actelion shareholders benefit financially from Actelion’s R&D pipeline, the people said.
Reporting by Paul Arnold; Writing by Michael Shields; Editing by Mark Potter