by Cho Seulkina
Published 12 Apr.2024 12:50(KST)
Updated 12 Apr.2024 13:18(KST)
Japanese company Fujifilm has decided to expand its production capacity for biopharmaceuticals used in cancer treatment and other applications by five times by 2028. It plans to invest 700 billion yen (approximately 6.25 trillion KRW) to secure new facilities at key locations including the United States, and increase contract manufacturing for pharmaceutical companies.
According to the Nihon Keizai Shimbun on the 12th, Fujifilm will secure new facilities at its production plant located in North Carolina, USA. It also plans to expand facilities at bases in Europe, Japan, and other regions to raise its global production capacity to about 750,000 liters by 2028.
This move follows the trend of major pharmaceutical companies outsourcing production to reduce development costs. According to the Ministry of Economy, Trade and Industry, Fujifilm ranks fourth globally in contract manufacturing of biopharmaceuticals. Through this investment, it will be able to compete with global leaders in biopharmaceutical contract manufacturing such as Samsung Biologics and Swiss company Lonza.
The newspaper reported, "As pharmaceutical companies outsource production to reduce costs, there is a movement to separate development and production, similar to the semiconductor and digital electronics industries. Pharmaceutical mass production technology is directly linked to economic security, as seen with new COVID-19 vaccines. By securing cutting-edge production technology, Japanese companies can also ensure stable supply of similar medicines."
Fujifilm aims to expand its biopharmaceutical contract manufacturing business sales to 500 billion yen, 2.6 times the previous fiscal year, by March 2029. Since entering the pharmaceutical field in 2011, its total investment will exceed 1 trillion yen.
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