Swiss Biotech Issues First Dividend to Appease Largest Shareholder
|February 18th, 2011||
|Actelion, a biotech located in Switzerland, proposed its first dividend in an effort to appease its largest shareholder, Elliott Management Company. New York-based hedge fund manager Elliott Management Company has been pushing for Actelion to sell itself after three product prospects suffered late-stage failures. Actelion has faced difficulty diversifying beyond Tracleer, its top selling heart and lung drug. In addition to publicizing the dividend, Actelion announced that they missed yearend profit estimates.|
Actelion is determined to remain independent.
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