Johnson & Johnson (NYSE: JNJ) agreed to buy Actelion Ltd. for $30 billion and spin off the Swiss drugmaker’s research and development operations, clinching its largest deal ever to become a leader in medicines for a rare type of high blood pressure.

J&J, which is funding the transaction with the cash it holds outside the U.S., will fulfill its goal of gaining a new drug category and see its earnings get an immediate boost from the transaction. The deal is expensive compared to recent industry takeovers such as Pfizer Inc.’s (NYSE: PFE) acquisition of Medivation Inc. (Nasdaq: MDVN) and AbbVie Inc.’s (NYSE: ABBV) purchase of Pharmacyclics Inc., according to an analysis from Bloomberg Intelligence.

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