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Avigan coronavirus hope puts Fujifilm's health care in focus

Drug trial in China highlights company's industrial transformation through M&A

Under CEO Shigetaka Komori, Fujifilm has transformed itself through dealmaking. (Photo by Akira Kodaka)

TOKYO -- Fujifilm continues to call itself a photographic filmmaker, but the Tokyo-based company sees its future in the health care business.

The idea may sound over the top but it was brought sharply into focus on Wednesday after Chinese authorities said Avigan, an anti-flu drug developed by Fujifilm's Toyama Chemical unit, had been shown in trials to be an effective treatment for the new coronavirus. Shares in Fujifilm rose 15%.

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