Johnson & Johnson Confirms Talks With Swiss Drug Company Actelion On Potential Deal

Johnson & Johnson confirmed Friday that it is holding preliminary talks with Swiss drug company Actelion Pharmaceuticals Ltd. regarding a potential deal, as reported earlier by Bloomberg News. The company said there can be no assurance a deal will materialize. "Johnson & Johnson does not intend to make any additional comments regarding these discussions unless and until it is appropriate to do so, or a formal agreement has been reached," it said in a statement. Actelion has a market cap of about $17 billion. Shares of Actelion were last up almost 17%. Johnson & Johnson shares rose 0.9%, and have gained 11% in the year so far, while the Dow Jones Industrial Average has gained 9.8%.