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Fujifilm to acquire large-scale biologics manufacturing site from Biogen

Fujifilm Corporation has entered into an agreementto acquire Biogen (Denmark) Manufacturing ApS, a large-scale biologics manufacturing site located in Hillerød nearCopenhagen, Denmarkfrom Biogen for approximatelyUS$890 millionin cash.

Upon closure of this transaction, Biogen Hillerød will become Fujifilm's fourth biopharmaceutical contract development and manufacturing site.

The existing workforce at the site, which consists of approximately 800 employees, will be retained by Fujifilm. FUJIFILM Diosynth Biotechnologies, a leading Contract Development and Manufacturing Organization (CDMO) with expertise in the development and manufacture of biologics and advanced therapies is responsible for all of the Fujifilm biopharmaceutical CDMO sites.

Biogen Hillerød is equipped with 6 x 15,000L bioreactors for the manufacture of cell culture derived biologics. This facility will significantly expand the capacity and capabilities of Fujifilm and provides a line of sight to large production volumes through ‘scale up’, thus complimenting the current ‘scale out’ manufacturing model implemented under its SaturnmAb services.

With this acquisition Fujifilm intends to deliver on its strategy to support projects from pre-clinical through to commercialization with best in class assets capable of delivering very small to very large production volumes. FUJIFILM Diosynth Biotechnologies currently provides a line of sight to large scale production capacity (20,000L) for microbial derived biologics, through its partnership with MSD, Brinny.

Fujifilm has aggressively invested in its Bio CDMO business for increasing the production capacity and capability of process development at the sites of FUJIFILM Diosynth Biotechnologies in the U.S. and U.K. The company will extend the service of its Fill/Finish services in fiscal year endingMarch 2021to include cGMP aseptic filling of recombinant proteins for its full service CDMO approach. In addition, it introduced next generation mammalian expression system, ApolloX that is capable of delivering industry leading titers in excess of 10 g/L. Through aggressive capital investment and the development of highly efficient and highly productive technologies, Fujifilm has expertise in the development and manufacture of a variety of biologics including recombinant proteins, monoclonal antibodies, viral vaccines and gene therapies, andit will continue to further expand the business.

In its pursuit to establish itself as a comprehensive healthcare company covering prevention, treatment and diagnosis, Fujifilm has made multiple strategic acquisitions over recent years that expand and diversify its healthcare portfolio; this was most recently demonstrated by the acquisition of Irvine Scientific, which became a Fujifilm company onJune 1, 2018. The ability to identify and exploit synergies between its businesses is a key strength of Fujifilm and fundamental to its growth strategy.

This acquisition is expected to be completed aroundAugust 2019, subject to customary closing conditions, including the receipt of required regulatory approvals from competition authorities.

Upon closure of this transaction, Biogen Hillerød will become Fujifilm's fourth biopharmaceutical contract development and manufacturing site.

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