Acquisition: Fujifilm to Take Over Two Biotech Units from Japan’s JXTG

Fujifilm Holdings to acquire two biotechnology units from Japan’s JXTG Holdings Inc for about $800 million in a deal designed to expand the tech giant’s presence in regenerative medicine.

Fujifilm on Thursday said it has acquired all outstanding shares of the two JXTG units, the Irvine Scientific Sales Company (ISUS) and IS Japan (ISJ).

“To advance its growth strategies in the healthcare area, Fujifilm continues to invest in contract development and manufacturing of biopharmaceuticals and regenerative medicine,” Fujifilm said. The company was quoted on ZDNet.

With the further purchase of ISUS and ISJ, Fujifilm said that “we will now be able to provide a broad product portfolio from biopharmaceuticals to in vitro fertilization and cell therapy, strengthening our global business” through Fujifilm Diosynth Biotechnologies (FDB).

Prominent in the cell culture media arena – ISUS and ISJ – are based in Santa Ana, California and Toda, Saitama respectively.

Fujifilm CEO Shigetaka Komori also said he was confident Fujifilm would overcome opposition to the Xerox deal – which has come under pressure with Carl Icahn and Darwin Deason, activist shareholders who own a total of more than 10 percent of the U.S. firm, urging fellow shareholders to oppose the merger, Reuters reported

“We have been telling Xerox shareholders how the deal would benefit them,” he said on Thursday. Mr Komori was quoted on the news agency.

Fujifilm Holdings Corporation, better known as Fujifilm or simply Fuji, is a Japanese multinational photography and imaging company headquartered in Tokyo.