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J&J say has not taken stake in Spain's Zeltia
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2 October 2003, 10:35am ET

Mentioned Last Change
INDU 9470.02 0.82dollars or (0.00%)
ZEL 5.73 0.22dollars or (3.99%)
JNJ 50.34 0.07dollars or (0.13%)
MADRID, Oct 2 (Reuters) - U.S. healthcare giant Johnson & Johnson (NYSE:JNJ) denied on Thursday a newspaper report which said it had taken a 2.5 percent stake in Spanish biotechnology company Zeltia (MC:ZEL).

"J&J has not purchased 2.5 percent of Zeltia stock. J&J has no equity investment in Zeltia," J&J spokesman Jeff Leebaw told Reuters by telephone.

Earlier financial daily La Gaceta reported J&J had purchased its stake since the beginning of August and aimed to raise the holding to 10 percent, possibly by the end of the year.

Zeltia stock soared 11 percent on the report but at 1432 GMT was up just 3.45 percent at 5.7 euros.