Dutch biotech Crucell has accepted J&J's $2.3 B to buy up the rest (82%) of the company to gain full access to its vaccine and drug development programs. This is a 58% premium on its closing price from yesterday. Crucell shareholders should be pleased.
J&J now has a much better vaccine platform to pursue the burgeoning opportunities in this market including continuing their development program toward a "universal flu" vaccine. Crucell will become a center of excellence for vaccines with J&J and will remain headquartered in Leiden.
Some analysts also commented that this deal should lay any rumors to rest that J&J would consider entering the Genzyme sweepstakes.
See Fierce Biotech and PharmaGossip for more.
Posted by Bruce Lehr September 17th 2010.
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