Crucell had previously been in takeover talks with US drugmaker Wyeth, but talks were broken off in January after Pfizer moved in to buy Wyeth.
Johnson & Johnson and smaller rival Abbott are already the most diversified of the large US and European healthcare companies, but both continue to snap up more companies and products — often at distressed prices due to the economic downturn.
Crucell said it issued 14.6 million new Crucell shares to Johnson & Johnson, which paid about a 30 per cent premium based on the average price of Crucell shares in the past 35 days. That led to a price per share of about Euro 20.63. The transaction will have an estimated dilutive impact of $0.02 to $0.04 on Johnson & Johnson’s 2009 adjusted earnings per share.
Deccan Herald is on WhatsApp Channels| Join now for Breaking News & Editor's Picks