Crucell's strategy targets savings of 15% in 2008

At its March 12 investor day conference, Dutch biotechnology company Crucell outlined plans for the expansion of its vaccines business, and provided updates on its healthy pipeline. The firm's senior management also announced a cost cutting plan that it hopes will generate savings of 15% on last year's cost base. After the meeting, analysts at Lehman Brothers reaffirmed their confidence in the firm, noting that it is uniquely positioned within the European biotechnology sector with both a growing vaccines unit and a proprietary technology for the productions of biologicals. They maintained their 1-overweight rating with a 19-euro per share price target and 100% potential upside.