FUJIFILM Corp. signs stock purchase agreement valued at $800 million to acquire Irvine Scientific Sales Company and IS Japan.
FUJIFILM Corporation announced it is signing a purchase agreement for US$800 Million to acquire Irvine Scientific Sales Company, Inc. (ISUS) and IS JAPAN CO., LTD., (ISJ) from Japanese petroleum giant JXTG as part of their plan for strategic growth. The company continues to invest in the contract development and manufacturing business of biopharmaceuticals and regenerative medicines, after already investing in iPS specialist Cellular Dynamics International and somatic stem developer Japan Tissue Engineering.
“With [the] acquisition of ISUS and ISJ, Fujifilm will now be able to provide a broad product portfolio from biopharmaceuticals to in vitro fertilization and cell therapy, strengthening its global business,” noted the company in a statement. “The market for cell culture media is expanding following the dramatic growth in the demand for biopharmaceuticals centered around antibody drugs and the increasing need for treatments using cells, and its annual growth is expected to be approximately 10% going forward.”
FUJIFILM Corporation also plans to establish a new site for the marketing of products and services in Boston in addition to the current FDB, CDI, Wako Pure Chemical and ISUS U.S.-sites. With this, FUJIFILM plans to respond to the evolving needs of pharmaceutical manufacturers, bio-ventures, and academia in the area.