Fujifilm expands into biologics with $490M Merck buy

Japan's Fujifilm is beefing up its drug business with a deal to buy two of Merck's contract manufacturing facilities. Fujifilm has agreed to buy the Merck BioManufacturing Network and its biologics plants in North Carolina and Northeast England in an acquisition said to be worth $490 million. The deal gets Merck out of the contract biologics business, although the company will continue to perform some development and manufacturing services for Fujifilm. For the Japanese company, it's yet another expansion into medicine and pharma, two businesses the company has targeted in an attempt to counteract rapidly waning demand for its photo film and paper business, Reuters reports. Report