Actelion receives strong support from BB Biotech and IVOX
(Thomson Reuters ONE) -
Actelion Pharmaceuticals Ltd /
Actelion receives strong support from BB Biotech and IVOX
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The issuer is solely responsible for the content of this announcement.
Company urges shareholders to vote for ALL of Actelion's proposals and Board
nominees
ALLSCHWIL/BASEL, SWITZERLAND - 19 April 2011 - Actelion Ltd (SIX: ATLN)
("Actelion" or "Company") announced today that it has received the support of BB
Biotech, one of its major long-term shareholders, and IVOX, a German-based
independent proxy voting service, in advance of the Company's Annual General
Meeting (AGM) on 5 May.
Robert E. Cawthorn, the Chairman of Actelion's Board of Directors, commented:
"We are pleased to receive the full support for all our proposals and nominees
from BB Biotech, one of the world's leading biotechnology investment funds, and
IVOX, a highly respected proxy voting service."
Robert Cawthorn continued: "BB Biotech has a deep understanding of the biotech
industry and has in-depth knowledge of our Company. This makes their endorsement
of our Board and nominees very meaningful. We also believe that IVOX is correct
to question Elliott's motives and we agree with them that Elliott's plans could
damage shareholders' interests. Our entire Board remains committed to advancing
our promising pipeline of late stage compounds and creating value for
shareholders."
In its endorsement, BB Biotech stated:
* "On behalf of our shareholders, we routinely assess healthcare markets, new
technologies, commercial and financial strategies, and the management teams
that make it all happen. Such innovation drives economic development, is the
cornerstone of healthcare improvement, and creates significant value. In our
view, Actelion is a good example of such value creation."
* ".We have never doubted the competence of Actelion's scientists, the
commitment of their management or the veracity of their board."
For more information see www.bbbiotech.ch or visit:
http://www.actelion.com/en/investors/events/agm/endorsements.page
In its endorsement, IVOX stated that:
* Actelion's nominees have the "necessary knowledge" and that the proposals
brought forward by Elliott should be viewed critically by Actelion
shareholders as Elliott's interests are "extremely questionable". The report
added that there is no guarantee that Elliott's proposals "will not harm
Actelion's shareholders".
The full IVOX report is available in German on the corporate website:
http://www.actelion.com/en/investors/events/agm/endorsements.page
Institutional Shareholder Services (ISS), a US-based independent proxy advisory
firm, also issued a report that, among other recommendations, supported the
overwhelming majority of Actelion's AGM proposals, including:
* Actelion's incumbent Board members and nominees holding a majority on the
Board.
* The continued leadership of Jean-Paul Clozel, both as CEO and as a director.
* The nomination of the Company's two new director nominees, Jean-Pierre
Garnier and Robert Bertolini.
In the report, ISS also recommended the election of three Elliot sponsored
nominees.
Carl Feldbaum, an Actelion Board member and Chairman of the Company's nominating
committee, commented: "We are pleased that ISS recommended in favor of
Actelion's nominees, including our CEO, retaining a majority on the proposed
Board. We also agree with them that control of Actelion should not be handed
over to a dissident shareholder through a proxy fight. We do, however, strongly
disagree with ISS' recommendation to elect three dissident nominees."
Carl Feldbaum continued: "We have carefully evaluated the core competencies of
each of our Board members and nominees and believe they have demonstrably
greater experience and expertise. In addition, as ISS recognizes in its report,
Elliott's Board and nominees have not presented a detailed business plan for the
Company. We urge shareholders to vote for ALL of our proposals."
The company encourages all shareholders to register their shares no later than
28 April 2011 and to follow the Board's recommendations by voting FOR all of
Actelion's experienced director nominees and proposals - either by attending the
AGM on 5 May in person or by filling out and returning the independent proxy
card.
More information on how to register and vote your shares is available on
Actelion's website at:
http://www.actelion.com/en/investors/first-time-investor/how-to-register-
shares.page
If you need assistance voting your shares, please call D.F. King & Co., Inc.
toll free from North America at + 1 800 967 7635, or toll free from Continental
Europe at 00800 5464 5464.
###
Note to Editors
Actelion Ltd.
Actelion Ltd is a biopharmaceutical company with its corporate headquarters in
Allschwil/Basel, Switzerland. Actelion's first drug Tracleer®, an orally
available dual endothelin receptor antagonist, has been approved as a therapy
for pulmonary arterial hypertension. Actelion markets Tracleer® through its own
subsidiaries in key markets worldwide, including the United States (based in
South San Francisco), the European Union, Japan, Canada, Australia and
Switzerland. Actelion, founded in late 1997, is a leading player in innovative
science related to the endothelium - the single layer of cells separating every
blood vessel from the blood stream. Actelion's over 2,400 employees focus on the
discovery, development and marketing of innovative drugs for significant unmet
medical needs. Actelion shares are traded on the SIX Swiss Exchange (ticker
symbol: ATLN) as part of the Swiss blue-chip index SMI (Swiss Market Index
SMI®).
For further information please contact:
Roland Haefeli
Vice President, Head of Investor Relations & Public Affairs
Actelion Pharmaceuticals Ltd, Gewerbestrasse 16, CH-4123 Allschwil
+41 61 565 62 62
+1 650 624 69 36
www.actelion.com
The above information contains certain "forward-looking statements", relating to
the company's business, which can be identified by the use of forward-looking
terminology such as "estimates", "believes", "expects", "may", "are expected
to", "will", "will continue", "should", "would be", "seeks", "pending" or
"anticipates" or similar expressions, or by discussions of strategy, plans or
intentions. Such statements include descriptions of the company's investment and
research and development programs and anticipated expenditures in connection
therewith, descriptions of new products expected to be introduced by the company
and anticipated customer demand for such products and products in the company's
existing portfolio. Such statements reflect the current views of the company
with respect to future events and are subject to certain risks, uncertainties
and assumptions. Many factors could cause the actual results, performance or
achievements of the company to be materially different from any future results,
performances or achievements that may be expressed or implied by such forward-
looking statements. Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect, actual results
may vary materially from those described herein as anticipated, believed,
estimated or expected.
--- End of Message ---
Actelion Pharmaceuticals Ltd
Gewerbestrasse 16 Allschwil Switzerland
ISIN: CH0010532478;
Press Release PDF:
http://hugin.info/131801/R/1507524/442422.pdf
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originality of the information contained therein.
Source: Actelion Pharmaceuticals Ltd via Thomson Reuters ONE
[HUG#1507524]
Unternehmensinformation / Kurzprofil:
Datum: 19.04.2011 - 06:55 Uhr
Sprache: Deutsch
News-ID 53679
Anzahl Zeichen: 9276
contact information:
Town:
Allschwil
Kategorie:
Business News
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