Mergers and Acquistions News
Categories: Hardware
February 28th 2011, 18:04PM
Fujifilm has moved into biotech healthcare with the acquisition of Merck & Co's BioManufacturing Network in a deal valued at $490 million (£301 million).
As part of the deal Fujifilm will own two of the firm's biotechnology manufacturing plants, one in the US and in the UK, Reuters reports.
Financial terms have not been formally disclosed, but Nikkei, the Japanese business daily, put the deal at approximately 40 billion yen.
Fujifilm will purchase all the equity interests in two Merck subsidiaries, Diosynth and MSD Biologics, which together own all assets of the Merck BioManufacturing Network with sites in North Carolina, US, and Billingham, England.
"Fujifilm continues to build upon its ongoing commitment to delivering pharmaceutical business," said Shigetaka Komori, president and chief executive officer of Fujifilm.
"This acquisition provides an important addition to our pharmaceutical business with diverse capabilities and technical expertise in production of protein therapeutics."
Since it was founded in 1934, Fujifilm has become an industry leader in photography, but is increasingly looking to become a major healthcare firm as demand for its main product range is diminishing.
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