Johnson & Johnson in £1.46bn bid for Crucell

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So More From Our Partners Killer drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comUK teen died on school trip after teachers allegedly refused her Johnson & Johnson in £1.46bn bid for Crucell Share Show Comments ▼ US health care company Johnson & Johnson, looking to catapult itself into the global vaccine market, is in talks to pay 1.75bn euros (£1.46bn) to buy Dutch biotech Crucell.J&J, which already owns a 17.9 per cent stake in vaccine maker Crucell, said its potential cash offer valued Crucell shares at 24.75 euros, a 58 per cent premium to Thursday’s closing price.Crucell shares jumped 53.9 per cent to 24.16 euros, lifting other Dutch biotech stocks and shares in Austrian vaccine maker Intercell, which climbed 6.7 per cent.“We believe the chances for success are high. The bid price on the remaining shares can be considered as a knock-out price and is substantially higher than the analysts’ consensus target price,” analyst Jan de Kerpel at KBC Securities said.De Kerpel said the potential deal was more proof it was a question of “not if but rather when” other successful biotech companies with late-stage products will be bought.Johnson & Johnson and Pfizer have been flagged as possible, but unlikely, rival bidders for U.S. biotech company Genzyme, the target of Sanofi-Aventis, so the bid may signal J&J is out of that race.A Britain-based analyst who did not wish to be named said it would be “pretty unlikely” that Johnson & Johnson would bid for both Genzyme and Crucell at the same time.Crucell Chief Executive Ronald Brus said the potential deal with J&J, which does not have its own vaccine business, meant the world’s sixth-largest vaccine producer can accelerate its development programme.“With the help of Johnson & Johnson we can increase our reach throughout the world significantly,” Brus told reporters. “Together we feel we form a very strong team.”Brus said he intended to stay on and did not expect any lay-offs at Crucell, which produces vaccines against flu and childhood diseases and is developing products against yellow fever alongside research into tuberculosis and malaria vaccines.Drugmakers have been looking to biotech to refill product pipelines at a time when sales of old blockbusters are falling to generic competition. Vaccine makers have also become more attractive as their sales and traditionally low margins improve.Johnson & Johnson is a diversified group that makes prescription drugs as well as Tylenol pain relievers, Listerine mouth wash and Band-Aid adhesive bandages. Company veteran William Weldon has been chief executive since 2002.It bought its stake in Crucell, one of two major independent vaccine makers in Europe alongside Intercell, in September 2009 as part of a flu vaccine development deal.Crucell is on the cusp of sharp sales growth for its paediatric vaccine Quinvaxem after a production failure at rival Shantha Biotechnics, which was bought by Sanofi-Aventis last year for 6.1 times its annual sales. center_img Tags: NULL whatsapp John Dunne Friday 17 September 2010 6:38 am whatsapplast_img