Tokyo, Japan 12/15/16; Osaka, Japan 12/15/16—Takeda Pharmaceutical has agreed to sell its stake in Wako Pure Chemicals to Fujifilm for ¥154.7 billion ($1.4 billion = ¥115.21 = $1) (see IBO 11/15/16). Wako Pure Chemicals consists of three divisions: Laboratory Chemicals, Specialty Chemicals and Clinical Diagnostic Reagents. Wako’s fiscal 2016 sales ending March 31 increased 2.3% to ¥79.4 billion ($66.1 million = ¥120.08 = $1). Fujifilm already holds a 10% share in the company. The remaining 2% is controlled by employees. Fujifilm highlighted expected synergies with its regenerative medicine, IVD, pharmaceutical contract development and manufacturing, and materials businesses. Fujifilm’s regenerative medicine business consists of Cellular Dynamics, which develops and manufactures iPSCs, and Japan Tissues Engineering, a regenerative medicine product company. Wako develops and manufactures cell culture mediums.

In connection with the offer, Wako will buyback 30% of its own shares in the company, according to the Nikkei Asian Review. Laboratory Chemicals revenue accounts for 46% of Wako sales. The business provides a wide range of laboratory chemicals and consumables, as well as life science reagents.