Swiss Biotech Issues First Dividend to Appease Largest Shareholder

February 18th, 2011
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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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For Detailed Investor Profiles on these Investors, click below:
Elliott Management Corporation
Related People: Brian Miller*; Gordon Singer; Jon Pollock; Paul Singer
Related Entities: Elliott Associates; Elliott International; Elliott Management Corp
Related Article Tags: Shareholder Activists, Corporate Raiders and Proxy Battles

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