Johnson & Johnson (JNJ) has finalized a deal to purchase Actelion (ALIOF) for $30 billion. The agreement means that the American pharmaceutical company will pay $280 per share for the Swiss biotech. The deal was unanimously approved by both boards.
The company has announced that it plans to spin out Actelion's research and development unit into a separate business.
Actelion shares have risen more than 50% since speculation about the takeover began in November.
"We believe this transaction offers compelling value to both Johnson & Johnson and Actelion," said Johnson & Johnson CEO Alex Gorsky.