Swiss drug company Actelion shares surge on report of possible Johnson & Johnson bid


Shares of Swiss drug company Actelion Ltd.

ATLN, +16.77%

surged 14% Friday, after a report that Johnson & Johson

JNJ, +0.94%

has approached the company with a view to a takeover. Bloomberg News said talks are at an early stage. The Swiss company has a market capitalization of about $17 billion. It has brought new lung treatments to market that are expected to reduce its reliance on its Tracleer drug, which is used to treat high bloody pressure that affects arteries in the lungs, according to Bloomberg. Johnson & Johnson shares were not active premarket, but are up 10% in the year so far, while the Dow Jones Industrial Average

DJIA, +0.36%

has gained 9.5%.