TOKYO -- Fujifilm Holdings is moving to give regenerative medicine greater status within the group as it targets sales of more than 20 billion yen ($194 million) in this field for 2018.
The office now in charge of the business will be upgraded to a division following Wednesday's general shareholders meeting, allowing for speedier decision-making in areas such as capital spending and management of acquired subsidiaries. The staff has grown from 50 to around 450 since the office was established in 2013.
Fujifilm bought U.S. regenerative medicine startup Cellular Dynamics International last year. That company has extended its reach through such moves as a contract with Swiss health-care group Roche to provide cells for use in drug discovery. Fujifilm intends to focus its expansion into regenerative medicine on supporting drug discovery.
Fujifilm this month revamped the management of Japan Tissue Engineering, which develops regenerative treatments for skin and cartilage, to try to move that subsidiary into the black.