Biogen to sell Denmark-based manufacturing site to FujiFilm for $890m

Biogen (NSDQ:BIIB) said yesterday that it inked an $890 million deal to sell a Denmark-based manufacturing site to Fujifilm (TSE:4901). The site, located in Hillerød, includes a biologics production facility with assembly, labeling and packing capabilities as well as quality control laboratories and warehouses, Cambridge, Mass.-based Biogen said. The facility also has approximately 800 employees who are expected to continue to work under Fujifilm. “We continually evaluate our manufacturing strategy and we believe that this agreement serves the best interest of our employees, customers, partners and shareholders. As we continue to diversify our portfolio across multiple modalities and bring online our state-of-the-art manufacturing facility in Solothurn, Switzerland, we believe that we have enhanced our manufacturing capabilities and capacity for biologics with this transaction. Fujifilm is a well-respected leader in manufacturing biologic products and they share our pioneering culture,” CEO Michel Vounatsos said in a prepared statement. As part of the deal, Biogen said it entered a manufacturing services agreement with Fujifilm, through which Fujifilm will produce commercial products for Biogen. “We are proud to combine the talent and expertise of the Hillerød employees with Fujifilm’s capabilities as an industry-leading contract development and manufacturing organization. We will work with Fujifilm with the goal of ensuring a smooth transition and rel...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News Biogen fujifilm Source Type: news