Sanofi Reportedly In Talks For Deal With Actelion

(RTTNews) - French drug giant Sanofi SA (SNYNF, SNY) is in talks for a deal with Swiss biotechnology firm Actelion Pharmaceuticals Ltd., the wall Street Journal reported citing people familiar with the matter.

It's not clear what price Sanofi is discussing paying or what structure is envisioned, but the report said a deal could value Actelion at as much as $30 billion.

On Tuesday, Johnson & Johnson said that it ended discussions with Swiss biotechnology firm Actelion Pharmaceuticals regarding a potential transaction. Johnson & Johnson said it was not able to reach an agreement that it believed would create adequate value for its shareholders.

Separately, Actelion on Tuesday confirmed that Johnson & Johnson has withdrawn from the discussions. But, Actelion said it was engaged in discussions with another party regarding a possible strategic transaction.