Actelion to acquire US-Based CoTherix

Swiss company Actelion has entered into a definitive agreement to acquire CoTherix, a biopharmaceutical company based in Brisbane, California, for a total acquisition price of approximately US$420m (CHF 525m).

CoTherix currently markets Ventavis (iloprost), the only approved inhaled therapy for the treatment of pulmonary arterial hypertension (PAH) in the US. Subject to regulatory clearance and other customary closing conditions, the transaction is expected to conclude early in 2007.

Actelion has had a longstanding relationship with CoTherix, developed through a shared focus on PAH. This relationship was extended with CoTherix's clinical STEP trial investigating the combined use of Tracleer and Ventavis.

'Through the acquisition of CoTherix, Actelion will further lead the drive towards improved PAH therapy, both today with the existing form of Ventavis and potentially tomorrow through improved delivery systems and dry-powder inhalation to further enhance convenience for patients,' said Jean-Paul Clozel, managing director and ceo of Actelion.

'By applying the abilities of our drug development team with those of CoTherix, we are committed to accelerating Ventavis' development in order to support today's trend of combining agents from multiple drug classes to improve treatment outcomes for patients.'

Tracleer (bosentan), the first oral dual endothelin receptor antagonist, is approved for the treatment of pulmonary arterial hypertension (PAH) and is available in the US, the EU, Japan, Australia, Canada, Switzerland and other markets worldwide.