Published:  01:03 AM, 13 March 2019

Fujifilm to buy Biogen Danish subsidiary for $890 million

Fujifilm to buy Biogen Danish subsidiary for $890 million

Japan's Fujifilm Holdings Corp said on Tuesday it is buying a subsidiary of Biogen Inc for around $890 million to bolster its healthcare business. It said it expects the acquisition of Biogen Denmark Manufacturing ApS to be completed in August.

The Denmark unit has a facility equipped with six 15,000 liter bioreactors that can manufacture cell culture-derived biologics. Biogen said it expects the site's 800 staff to remain employed.

Through the acquisition, Fujifilm aims to achieve its 100 billion yen ($897.91 million) revenue target in its contact development and manufacturing organization (CDMO) business by 2021, two years ahead of its original goal.Fujifilm last year said it would buy two biotechnology units from compatriot JXTG Holdings Inc for about $800 million.

---Reuters, Tokyo

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