Crucell to divest Graub, the veterinary business of Berna Biotech

By E. Janene Geiss

Philadelphia, April 5 - Crucell NV said Wednesday that it has agreed to sell its shares in the veterinary pharmaceuticals production company Dr. E. Gräub AG.

The company will become a subsidiary of Vetinvest GmbH, a German company investing in the field of veterinary medicines, according to a company news release. Financial details were not disclosed.

Dr. E. Gräub was fully owned by the Swiss vaccine company Berna Biotech AG, which was recently acquired by Crucell.

Crucell decided to sell this holding, which employs 40 people, as production and sales of veterinary medicines are not among its core activities. This divestment is an important step toward aligning Crucell's portfolio of activities with its strategic priorities, company officials said.

The transaction will close after the approval of competition authorities, officials said.

Crucell is a Leiden, The Netherlands, biotechnology company focused on research, development and worldwide marketing of vaccines and antibodies that prevent and treat infectious diseases.

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