JOHNSON and Johnson has
today confirmed its plans to buy
Dutch biotechnology company
Crucell NV for $2.29 billion.
According to reports, J&J is
currently in the process of
“advanced negotiations” with
Crucell - in which it already holds a
17.9% stake following an earlystage
collaboration agreement the
pair entered into last year.
The shareholding deal, which
netted Crucell around €20.67 per
share, also effectively made the
biotech company less attractive to
other suitors including Wyeth, which
in 2009 had also been in negotiations
to buy the company.
The J&J buyout will see Crucell
shares each snapped up at €24.75
(a 20% increase on J&J’s 09 buy up).The above article was sent to subscribers in Pharmacy Daily's issue from 20 Sep 10 To see the full newsletter, see the embedded issue below or CLICK HERE to download Pharmacy Daily from 20 Sep 10
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