It has been announced that Japanese Fujifilm Corporation will be acquiring Biogen's manufacturing site in Hillerød, Denmark. The Japanese giant is set to buy the Hillerød biotech facility for $890 million, in cash.
The manufacturing site
The manufacturing site in Hillerød includes a 90 000L biopharmaceutical production facility with assembly, labelling and packing capabilities, quality control laboratories, and warehouses. Fujifilm will not only be taking over the site, but also the 800 employees working there.
Michel Vounatsos, Biogen’s Chief Executive Officer, had some positive things to say about the acquisition.“We continually evaluate our manufacturing strategy and we believe that this agreement serves the best interest of our employees, customers, partners and shareholders.”
According to the announcement, Fujifilm will use the Hillerød manufacturing site to, among other things, develop products that they will then sell back to Biogen.
A part of the health sector
”It has always been Fujifilm's goal to bring new value to society through innovation and the creation of new technologies, products, and services. We are pleased that we can contribute to the growing health sector through this investment," says Shigetaka Komori, chairman and CEO of Fujifilm.
Biogen expecting to take a hit
According to Biogen’s press release, they are predicting a first quarter after-tax loss of approximately $130 to $150 million, due to the proposed acquisition by Fujifilm. That is an $0.66 to $0.76 loss, per diluted share.
The finalisation of the agreement and acquisition, is expected to be completed in the second half of 2019.
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