Johnson & Johnson, Crucell biotech announce takeover

Oct 06, 2010

Pharmaceutical and health care giant Johnson & Johnson has reached a deal with Dutch biotechnology vaccine group Crucell to buy 82.5 percent of Crucell for about 1.75 billion euros, the two firms said on Wednesday.

The payment, in cash for the equivalent of 2.4 billion dollars), would be made by a subsidiary of Johnson & Johnson which already owns 17.5 percent of the biotechnology firm.

The head of pharmaceutical research at Johnson & Johnson, Paul Stoffels, said: "This potential combination would provide us with a new platform for growth and advances our goal to deliver integrated health care solutions, with particular emphasis on prevention."

The price represents 24.75 euros per share, and a premium of 58 percent from the price on September 16, the day before the two groups revealed that they were in advanced talks. The price represents a premium of 63 percent on the average price in the previous 30 days.

Crucell, which employs 1,300 people, produced more than 115 million doses of vaccine last year for distribution in about 100 countries most of which are developing countries.

Johnson & Johnson, which employs 114,000 people, said it intended to retain the management and staff at Crucell and to keep the headquarters at Leiden in the west of the Netherlands.

Explore further: FTC clears Sun Pharma's $4B purchase of competitor Ranbaxy

add to favorites email to friend print save as pdf

Related Stories

Johnson & Johnson plans to buy Dutch vaccine group

Sep 17, 2010

US cosmetics and pharmaceutical giant Johnson & Johnson said on Friday it intended to acquire a Dutch vaccine maker Crucell which is active in developing countries for about 1.75 billion euros.

Summer time and the living is breezy

Jun 06, 2006

The U.S. hurricane season is under way and for many people in areas hit hard by 2005's hurricanes, it's going to be an uneasy summer.

Recommended for you

Why aren't there any human doctors in Star Wars?

Jan 30, 2015

Though set "a long time ago in a galaxy far, far away," it isn't hard to see in the Star Wars films a vision of our own not so distant future. But Anthony Jones, a physician with a long background in health ...

Cambodia bans 'virgin surgery' adverts

Jan 29, 2015

The Cambodian government has ordered a hospital to stop advertising so-called virginity restoration procedures, saying it harms the "morality" of society.

What's happening with your donated specimen?

Jan 28, 2015

When donating blood, plasma, human tissue or any other bodily sample for medical research, most people might not think about how it's being used. But if you were told, would you care?

Amgen tops Street 4Q forecasts

Jan 27, 2015

Amgen Inc. cruised to a 27 percent jump in fourth-quarter profit and beat Wall Street expectations, due to higher sales of nearly all its medicines, tight cost controls and a tax benefit.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.