Actelion Ltd. Shares Slump After Asahi Kasei Pharma Case Decision; Asahi Awarded up to $547 Million

Published: May 02, 2011

ZURICH, May 2 (Reuters) - Shares in Actelion Ltd (ATLN.VX) tumbled after a jury decided Asahi Kasei Pharma Corporation (3407.T) should be awarded up to $547 million in a license dispute, dealing Europe's largest biotech company a hefty blow.

The decision puts Actelion under even more pressure ahead of its annual general meeting on Thursday when it will square up to largest shareholder Elliott Advisors, which has accused the $7.7 billion company of squandering shareholder value through its high-risk strategy.[ID:nLDE7400HX]

At 0930 GMT on Monday, Actelion shares were trading 5.6 percent lower, underperforming a 0.3 percent rise in the European healthcare index .SXDP.

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