Johnson & Johnson, the world’s biggest maker of healthcare products, is setting up four centres around the world to scope out early-stage acquisitions, partnerships and investment opportunities.

The innovation centres, in San Francisco, London, China and Boston, will connect business development executives from the firm’s drug, device and consumer units with local scientists and entrepreneurs. The idea follows similar actions by Pfizer, Sanofi and Merck, which have also set up shop to ferret out early-stage products.

Johnson & Johnson, which has made nine acquisitions over 12 months, joined with Index Ventures and GlaxoSmithKline earlier this year to form a $200 million fund to invest in early biotechnology. – (Bloomberg)