ZURICH (Reuters) - Actelion (>> Actelion Ltd) said the new research and development company to be created following the $30 billion takeover by Johnson & Johnson (>> Johnson & Johnson) will be launched with 1 billion Swiss francs ($1.00 billion)in cash.

The unit will be spun out into a standalone company based and listed in Switzerland and will be led by Actelion Chief Executive and founder Jean-Paul Clozel, with Johnson & Johnson taking a 16 percent stake with rights to another 16 percent via a convertible note.

(Reporting by John Revill)

Stocks treated in this article : Johnson & Johnson, Actelion Ltd
Stocks treated in this article : Johnson & Johnson, Actelion Ltd