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Actelion said in a brief statement on Wednesday it was in
exclusive negotiations with the U.S. healthcare giant but that
there could be "no assurance any transaction will result from
these discussions", declining to comment further.
J&J confirmed the talks in a separate statement.
The announcement could dash the hopes of French drugmaker Sanofi,
which sources have said has been circling Actelion after J&J a
little over a week ago said it had ended discussions with
Actelion.
Sanofi has been trying to broaden its drug line-up as its key
diabetes business comes under pressure.
The French company has signaled it remained keen to make a
takeover deal after being trumped in August by Pfizer's <PFE.N>
$14 billion bid for U.S. cancer drug company Medivation.
Sanofi declined to comment on Wednesday.
Actelion had a market value of 23.2 billion Swiss francs ($22.6
billion) at Wednesday's closing price of 215 Swiss francs in
Switzerland.
U.S. shares in Actelion rose 11 percent after the announcement.
J&J shares were down 0.3 percent at 1815 GMT.
Actelion had told J&J before initial talks collapsed last week
that it was confident it could attract an offer significantly
higher than the approximately 250 Swiss francs per share the
U.S. company had offered, one person familiar with the matter
said.
There were also disagreements about the proposed deal's
structure, the person added at the time.
Actelion co-founder and Chief Executive Jean-Paul Clozel has
fended off previous takeover attempts, including a reported
takeover approach by Shire <SHP.L> last year and an activist
campaign in 2011 by U.S. hedge fund Elliott Advisors.
Acquiring the Swiss biotech firm would boost J&J's drug pipeline
and diversify its prospects. J&J's biggest product, the
arthritis drug Remicade, faces cheaper competition from Pfizer <PFE.N>.
(additional reporting by Matthias Blamont in Paris)
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