Fujifilm to make drug unit a wholly-owned subsidiary
Japanese conglomerate Fujifilm Holdings (TYO: 4901) will increase its stake in Toyama Chemical to 100% and merge it with an existing unit to create a new company focused on the swift development of new diagnostic and therapeutic drugs.
Toyama researches, develops, manufactures and sells small-molecule products, and has been 66%-owned by Fujifilm since 2008. Now the diversified tech firm is to buy the remaining 34% from Taisho Pharmaceutical Holdings.
The existing unit that the group plans to merge Toyama with is the radiopharmaceuticals specialist Fujifilm RI Pharma, further strengthening the relationship between diagnosis and treatment, and the new company is set to launch on October 1 of this year.
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