WASHINGTON (Washington) — Johnson & Johnson confirmed in a statement on Friday that it is in "preliminary discussions with Actelion Pharmaceuticals Ltd. regarding a potential transaction."
The Johnson & Johnson statement also said that the company would not disclose details of the talks until an "appropriate" time or when a formal agreement is reached.
Johnson & Johnson produces a wide range of consumer health products, medical equipment and pharmaceuticals. Actelion specializes in drugs used to treat rare medical conditions.
Shares of Actelion rose nearly 17 percent on Friday, indicating that investors believe Johnson & Johnson is interested in purchasing the Swiss drug maker.