In a sign of its growing emphasis on healthcare, Japanese photography giant Fujifilm Holdings has reached an agreement to acquire pharmaceutical firm Toyama Chemical, both of Tokyo.
Fuji, the parent of Fujifilm Medical Systems, plans to acquire a majority stake in Toyama. The deal will enable Toyama to develop its existing pharmaceutical pipeline, and will allow Fuji to enter the pharmaceuticals market.
Toyama is working on drugs such as an anti-influenza virus compound and an agent for the treatment of Alzheimer's disease. Under terms of the agreement, Toyama will become a subsidiary of Fuji.
Fuji said the deal is an example of the company's new focus on healthcare as it implements "large-scale structural reforms" to its traditional photography business. The company plans to expand from its base in diagnostic imaging and is increasing its investment in R&D and mergers and acquisitions.
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