Crucell Resumes Operations At South Korean Vaccine Plant
13 Janeiro 2011 - 1:48PM
Dow Jones News
U.S. health-care products giant Johnson & Johnson (JNJ)
takeover target Dutch biotechnology company Crucell NV (CRXL.AE)
said Thursday it resumed operations at its South Korean vaccines
plant after it had shut it down last year due to sterility issues
at the plant.
The World Health Organization (WHO) said the production has been
resumed, but added that Crucell can't bring the vaccines to the
market until the South Korean regulator has given the green light
for that.
WHO spokeswoman Alison Brunier said the organization was not
sure yet when the South Korean regulator would give its clearance,
but added it's a sign of confidence that Crucell had restarted
production again.
Crucell in late October last year abandoned its full-year
earnings targets after suspending operations at its Shingal site
and temporarily halting shipments of two vaccines because of
sterility issues at the plant. The Dutch biotech had earlier said
that it expected the facility to resume manufacturing in February
2011.
In early October, Crucell and J&J said they had reached an
agreement on the U.S. company's EUR1.75 billion cash offer for the
portion of the Dutch vaccine maker it doesn't already own, despite
the concerns of some major Crucell shareholders who think the bid
is too low.
J&J holds about 17.9% of Crucell shares, and the
EUR24.75-a-share offer is for the shares outstanding.
J&J in early December left open the option to change the
terms of its offer if problems at Crucell's manufacturing plant in
South Korea prove worse than thought.
-By Anna Marij van der Meulen; Dow Jones Newswires; +31 20 5715
216; annamarij.vandermeulen@dowjones.com
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