Pharmaceuticals: Johnson & Johnson to Buy Crucell for $2.3 Billion

Last Friday pharmaceuticals giant Johnson & Johnson Co. said it would purchase Dutch biomedical firm Crucell NV for around $2.3 billion (1.75 billion euros). Crucell is a leading manufacturer of vaccines. Johnson & Johnson already owns a 17.9 percent stake in the company, but the offer would give the company control over Crucell’s entire operations. The offer of 24.75 euros per Crucell share is a 58 percent premium over its Thursday closing price. "The companies expect that Crucell's strength in the manufacture, discovery, and commercialization of vaccines would create a strong platform for Johnson & Johnson in the vaccine market," the companies said in a joint statement.