trending Market Intelligence /marketintelligence/en/news-insights/trending/t5GAI8kGGUvaD_MQ1XYwZA2 content esgSubNav
In This List

Biogen to sell Denmark-based biologics manufacturing site to Fujifilm

Blog

Enterprises are missing out on 24B by not optimizing cloud spending not going multicloud

Blog

Investment Research Analysts Providing Greater Coverage on Inflation

Blog

Using Credit Analytics to Avoid Mispricing Insurance Premiums

Blog

Post-Webinar Q&A: Integrating Climate Risks into Credit Risk Portfolios


Biogen to sell Denmark-based biologics manufacturing site to Fujifilm

Biogen Inc. agreed to sell its Hillerød, Denmark-based large-scale biologics manufacturing site to Fujifilm Corp. for up to $890 million in cash.

The consideration is subject to minimum purchase commitment guarantees and other contractual terms, Biogen said.

Cambridge, Mass.-based Biogen is selling its subsidiary Biogen (Denmark) Manufacturing ApS, which holds the company's biologics manufacturing operations in the European city.

Following the deal's closing, Tokyo-based Fujifilm will use the Hillerød site to produce third-party products for Biogen, including multiple sclerosis drug Tysabri.

The transaction is subject to closing conditions, including antitrust clearance. The deal is expected to close in the second half of 2019.

Biogen will continue to operate its manufacturing site in Research Triangle Park, N.C. and expects another site, in Solothurn, Switzerland, to be operational by the end of 2020.

As a result of the deal, Biogen expects to see a total after-tax loss of $130 million to $150 million, or 66 cents to 76 cents per diluted share, in the first quarter of 2019.