Johnson & Johnson to Buy Dutch Vaccine Group

Value of acquisition is $2.3 billion

Cosmetics and pharmaceutical giant Johnson & Johnson said on Sept. 17 that it intended to acquire a Dutch vaccine maker Crucell which is active in developing countries for about $2.3 billion.

"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 two firms sai.

Johnson & Johnson already owns 17.5% of Crucell.

Crucell's headquarters will remain in Leiden in the Netherlands and J&J will preserve jobs at the Dutch company, which employs 1,300 people.

Last year Crucell produced more than 115 million vaccine doses in more than 100 countries, with the most of the treatments going to developing countries.

Copyright Agence France-Presse, 2010

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