Crucell Cuts a Good Bargain

Executive Summary

J&J Centocor's deal with Crucell demonstrates how large pharma companies are being forced to make bigger sacrifices in return for potential products. Centocor is believed to be paying just $2 million, with $1-2 million in annual fees but the deal value could reach $100 million and give J&J an opportunity to strengthen its oncology product line. And Crucell gets closer to its goal of being a product company without taking on all the risks of drug development.