In its largest pharmaceutical deal to date, Johnson & Johnson (J&J) will acquire the marketed and late-stage product portfolios of the Swiss biotech Actelion for approximately US$30 B in cash. Actelion’s early-stage research assets will be spun off into an independent company, in which J&J will hold a 16% equity stake with the option to purchase an additional 16% via a convertible note. With the acquisition, J&J will gain an orphan drug franchise centred on therapeutics for pulmonary arterial hypertension, including Opsumit® (macitentan), Uptravi® (selexipag), Tracleer® (bosentan), Veletri® (epoprostenol) and Ventavis® (iloprost). The deal will bolster J&J’s cardiovascular franchise at a time when it is facing generic competition in the US on Remicade® (infliximab).