Johnson & Johnson is in advanced talks with Crucell that could see it acquire the biotech firm for €1.75bn.

Under the terms of the advanced stage negotiations, Johnson & Johnson or an affiliate would pay €24.75 per outstanding ordinary share of Crucell.

Johnson & Johnson and its affiliates who currently hold approximately 17.9% of Crucell’s outstanding shares.

The public offer would be an all cash transaction.

Crucell expects to benefit from Johnson & Johnson’s expertise and experience in drug development and commercialisation, while Johnson & Johnson will benefit from the company’s strength in the manufacture, discovery and commercialisation of vaccines.

If the deal is closed, Johnson & Johnson expect to maintain Crucell’s existing facilities, senior management and current employment levels.