BUSINESS BRIEFING / PHARMACEUTICALS
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.
