Johnson & Johnson to open London innovation centre

Johnson & Johnson (J&J) is establishing four new innovation centres in four of the top biotechnology locations in the world, to try to hunt out new relationships and investment opportunities in medical devices and diagnostics.

The company is setting up one of the bases in London, with three others in California, Boston and China. It is hoping that each of the centres will have local deal-making capabilities and will further the conglomerate’s chances of becoming a “partner of choice” for smaller biotech companies.

Global pharmaceuticals head for J&J, Paul Stoffels, said that it was a priority of theirs to have people on the ground in medical technology centres and in dedicated scientific sales jobs in the bioscience hubs.

“We want to get better at interacting with the outside world and we are going to do it in a different way, closer to where the innovation is happening,” Stoffels said in a telephone interview,” he explained. “We want to get a significantly higher number of external opportunities, which we can identify and bring into the company.”

J&J already has an impressive track record of reaching beyond its own operations to track down innovations, with 50 per cent of its products resulting from external collaborations.

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