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Business

Daiichi sells nondrug units

September 18, 2006 | APPEARED IN VOLUME 84, ISSUE 38

Japan's Daiichi Pharmaceutical has agreed to sell a diagnostics subsidiary to Fuji Photo Film and a chemical subsidiary to Sekisui Chemical. The companies did not report how much the deals are worth, but Japan's Nikkei newspaper estimates that Fuji is paying $170 million and Sekisui, $255 million. Fuji is getting Daiichi Radioisotope Laboratories, a maker of diagnostic radiopharmaceuticals that employs 420 people. Sekisui is acquiring Daiichi Pure Chemicals, a supplier of clinical test agents, research reagents, fine chemicals, and pharmacokinetic testing products. Daiichi Pure Chemicals employs 600 people and had sales of nearly $200 million in its latest fiscal year.

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