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CONFIRMED: Johnson & Johnson is looking to buy a nearly $20 billion drugmaker

Portia CroweNov 25, 2016, 22:37 IST

Investing.com

Johnson & Johnson is looking to buy the Swiss drugmaker Actelion in what could be a nearly $20 billion deal.

Actelion on Friday confirmed J&J's interest, after Bloomberg first reported the potential takeover Thursday.

Shares of Actelion have jumped 16.7% to 184.40 Swiss francs ($182) since Thursday morning, giving the company a market cap of around 19.4 billion Swiss francs ($19.15 billion).

The two companies are in early talks, Bloomberg reported, and a deal may not necessarily materialize.

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