LONDON (ShareCast) - (Sharecast News) - Biogen has entered into a share purchase agreement with Fujifilm Corporation, it announced on Tuesday, under which Fujifilm will acquire the shares of Biogen's subsidiary, which holds its biologics manufacturing operations in Hillerød, Denmark, for up to $890m in cash, subject to minimum purchase commitment guarantees and other contractual terms.
The company said the approximately 800 employees at the Hillerød subsidiary were expected to continue employment under Fujifilm ownership.

As part of the proposed transaction, Biogen also announced that it would enter into manufacturing services agreements with Fujifilm.

Following the completion of the transaction, Fujifilm would use the Hillerød site to produce commercial products for Biogen, such as 'TYSABRI', as well as other third-party products.

"We continually evaluate our manufacturing strategy and we believe that this agreement serves the best interest of our employees, customers, partners and shareholders," said Biogen chief executive officer Michel Vounatsos.

"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."

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