Johnson & Johnson Buys 18 Percent Stake In Crucell

LINDA A. JOHNSON

TRENTON, New Jersey (AP) — Health care giant Johnson & Johnson is jumping into the increasingly hot vaccine business by taking an 18 percent stake in Dutch biotechnology company Crucell NV and focusing more on preventive medicine.

Under the deal the companies announced Monday, Johnson & Johnson is spending $440 million (euro301.8 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.

A universal flu vaccine — one that would work against all or most strains rather than having to be reformulated every flu season — has been an elusive goal some other pharmaceutical companies have abandoned. Amid the swine flu pandemic, it has suddenly become a bit of a Holy Grail.

Longer-term, Crucell and Johnson & Johnson will work on developing vaccines and possibly treatments based on antibodies against additional diseases. Antibodies are proteins made by white blood cells to target specific invaders.

"There are three potential compounds that are not disclosed in this deal," J&J spokesman Frederik Wittock told The Associated Press, referring to potential vaccines and treatments.