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Thursday, January 6, 2011

UNICEF expects to keep Crucell as vaccine supplier, (CRCL), (NYSE: JNJ)

UNICEF expects to keep Crucell (CRCL.AS) as a supplier of childhood vaccines on the condition of a positive outcome to a World Health Organisation (WHO) review of contamination at the Dutch biotech company's Korean vaccine facility. Crucell halted shipments from its Korean vaccine facility and booked a 23 million euro ($30.2 million) inventory writedown following a microbiological contamination at the plant last year, but expects to return to full manufacturing capacity in February. The incident spooked investors, concerned U.S. healthcare group Johnson & Johnson (JNJ.N) might withdraw or lower its agreed 1.75 billion euros bid for the company.