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Business Briefing / Pharmaceuticals

J&J buys 18% stake in Crucell

September 29, 2009|Times Wire Reports

Healthcare giant Johnson & Johnson is jumping into the increasingly hot vaccine business by taking an 18% stake in Dutch biotechnology company Crucell and focusing more on preventive medicine.

Under the deal, Johnson & Johnson is spending 301.8 million euros ($440 million) for new shares of Crucell in a deal focused initially on developing a universal vaccine or treatment against influenza from Crucell's genetically engineered antibody technology.

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