Johnson & Johnson has re-entered negotiations with Actelion Ltd. for a possible transaction.

The company made a takeover offer for Actelion in November but ended discussions for a possible deal earlier in December as it was not able to reach an agreement that would create adequate value for its shareholders.

Johnson & Johnson said there is no guarantee the renewed talks will lead to a transaction. It also does not intend to make additional comments until it is appropriate to do so, or a formal agreement is reached.

French drugmaker Sanofi is also in advanced talks to acquire the Swiss drugmaker.