Pharmaceuticals have figured that out that if they can't be as innovative or nimble as biotechs, the next best option is to pay for their good ideas with licensing deals and acquisitions.
And what better way to identify those potential deals than to cozy up to the biotechs?
Invite them into your homes
Earlier this year, Johnson & Johnson (NYS: JNJ) opened an incubator within its San Diego campus to house biotech startups. Janssen Labs -- named after one of Johnson & Johnson's drug divisions, Janssen Pharmaceutical -- is a no-strings-attached affair with startups free either to develop the products on their own or partner with Johnson & Johnson or another company.
To read the full, original article click on this link: Big Pharma Cozies Up to Biotech - DailyFinance