By Austen Hufford

Biopharmaceutical company Actelion Ltd. said Friday that it had been approached by Johnson & Johnson about a possible deal.

Shares rose 16% to 182.40 Swiss francs on the SIX Swiss Exchange.

J&J didn't immediately respond to a request for comment.

Last year, Switzerland-based Actelion reported revenue of 2.05 billion francs ($2.02 billion) and a profit of 551.9 million francs.

Actelion, which had its initial public offering at the turn of the century, focuses on drugs for pulmonary arterial hypertension,a type of high blood pressure that affects arteries in the lungs and in the heart.

Bloomberg reported Thursday that J&J had made an initial bid for the specialty drug company.

Shares of J&J rose 0.7% to $113.88 in morning trading in the U.S.

Write to Austen Hufford at

(END) Dow Jones Newswires

November 25, 2016 11:57 ET (16:57 GMT)

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