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 talks 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 medical devices and other consumer products. 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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