US pharmaceuticals company Johnson & Johnson has taken an 18% stake in Dutch biotechnology firm Crucell for €301m.

The two companies have also agreed to work together in the field of developing vaccines, including flu vaccines, they said in a statement.
The American firm has also agreed not to expand its stake for three years without Crucell’s go ahead.
Royal Bank of Scotland analyst Mutlu Gundogan told the Financieele Dagblad the alliance was surprising because Crucell does not need the money and the deal reduces the scope for a full takeover.