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11/21/2021, 6:32 AM (Source: TeleTrader)
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Fujifilm to invest $5B in drug making, development

Fujifilm Holdings Corp. intends to spend $5.25 billion (600 billion yen) on providing drug development and manufacturing services to other companies, Nikkei reported on Sunday. Among other investments, the company plans to "introduce a new production system that can more efficiently make antibodies with high purity in its plant in the UK."

Fujifilm executive Takatoshi Ishikawa said the new system is "a game-changer that will put it in a strong position to become the market leader." According to Nikkei, the company is currently in talks with several pharmaceutical businesses and hopes to increase the sales of its contract development and manufacturing organization (CDMO) to $1.7 billion (200 billion yen) annually until March 2025.

Baha Breaking News (BBN) / DJ