Dutch biopharma company Crucell N.V. (Euronext, Nasdaq: CRXL; Swiss Exchange: CRX) today announced that it intends to move Dukoral® and rCTB bulk production, formulation and fill/finish activities from Sweden to other sites within the Crucell organization, resulting in additional cost savings beyond 2011.

After thorough analysis and business process redesign, Crucell's operational excellence program, Healthy Ambition, is now being rolled out at full steam. Important elements of the program are: product portfolio optimization, process and infrastructure optimization, network rationalization and further integration and streamlining of various functions. Target savings of €30 million had already been identified and are expected to be achieved by the end of 2009.

Also as part of the Healthy Ambition program, management of Crucell today announced to employees, the intended decision to move Dukoral® and rCTB bulk production, formulation, fill/finish and connected support activities from Sweden to other sites within the organization. The Nordic Sales and Customer Service and Distribution activities remain unaffected. This is expected to result in additional cost savings beyond 2011. Further financial details were not disclosed.

The decision was made with a view to increase the value of the Company by making Crucell operationally excellent resulting in optimized production and financial performance.

The formulation, filling and packaging of Dukoral® in Sweden will stop during 2011 and will move to Spain;
The bulk production of Dukoral® and rCTB will stop in 2012 and will move to Switzerland;
Nordic Sales and Customer Service and Distribution activities will continue to operate from Solna in Sweden;
Research activities will be closed and concentrated in Leiden before year-end 2008.

Outlook 2008:
Crucell expects combined full year 2008 total revenue and total other operating income to grow by 20% in constant currencies [1]. The Company expects higher margins compared to 2007 and positive cash flow.