Updated from 5:43 p.m. EST

Dutch biopharmaceutical company


( CRXL) said Wednesday it has been involved in talks that could lead to its acquisition by


( WYE).

Crucell, which is known for vaccines and infectious-disease treatments, said the discussions are at a preliminary stage, and there is no assurance that a transaction will be reached.

The Wall Street Journal

, citing people who had knowledge of the situation, reported that a deal with Wyeth could value Crucell at more than $1.35 billion. The report added that another company, perhaps


(NVS) - Get Report



(SNY) - Get Report

, could be interested in Crucell, as well.

Though M&A activity has been fairly slow in recent months, the drug and biotech sector has seen a few deals, and more could be in its future.

Johnson & Johnson

(JNJ) - Get Report

recently bought


, while this week,


(PFE) - Get Report

said it was open to acquisitions, and

Endo Pharmaceuticals

(ENDP) - Get Report

set plans to take over

Indevus Pharmaceuticals

(IDEV) - Get Report


Shares of Crucell jumped 27.6% to $20.50 in regular trading and added another 2.8% to $21.07 after hours. The move put the stock above its old 52-week high of $20.14. Wyeth was unchanged at $38.18 in the late session.

This article was written by a staff member of TheStreet.com.