Crucell Cuts a Good Bargain
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.
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Forced by a series of setbacks to downsize its antibody platform, Crucell is now turning to vaccine applications of its human cell production technology to satisfy its product developer ambitions.
Acquiring Centocor gives J&J products to help fill the void in its drug portfolio. Will it also use Centocor's core biologics expertise to launch a broader move into biotechnology?
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