Johnson & Johnson ends talks to buy Actelion

Johnson & Johnson said Tuesday it has ending talks to buy Swiss drugmaker Actelion Pharmaceuticals.

The New Brunswick, New Jersey-based health care giant said it was unable to reach a deal that would have created "adequate value" for its shareholders. Last month, it said the two were in early-stage about a possible deal.

Actelion late Tuesday confirmed the negotiations with Johnson & Johnson had been broken off. It added, however, that it was in talks "another party regarding a possible strategic transaction." It gave no further details.

Johnson & Johnson develops drugs and makes and other . It is behind such brands as Band-Aids, Tylenol and biologic immune disorder drug Remicade.

Actelion Pharmaceuticals Ltd. makes high blood pressure medicines that treat arteries in the lung and around the heart.

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