Johnson & Johnson bid 1.75 billion euros to buy the rest of the Dutch biotechnology company Crucell, reports The New York Times' DealBook, which notes that Johnson & Johnson already owns nearly 18 percent of the biotech. The offer for the company, which specializes in vaccines and therapeutics for infectious diseases, is 24.75 euros a share, and is supported by the Crucell board. The bid goes to a vote in early February. "While the bid announced Wednesday doesn't rival Pfizer's $68 billion deal for Wyeth last year or Merck’s $41 billion acquisition of Schering-Plough, Johnson & Johnson is clearly in a position to go shopping while rivals try to integrate their major purchases," the Times says. However, at Pharmalot, Ed Silverman lists some of the company's recent woes, including recalls and manufacturing problems.
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Dec 10, 2010