FUJIF - Fujifilm to focus on healthcare in its diversification drive: CEO

winhorse/iStock Unreleased via Getty Images The newly appointed CEO of FUJIFILM Holdings Corporation (FUJIF), (FUJIY) Teiichi Goto, has outlined a three-year, $11B investment plan centered on the healthcare business to diversify the company away from the company’s original photo business.   "Businesses like healthcare are like a deep, blue ocean, " Reuters reported quoting Goto, who was named the company CEO on June 29. "It's not going anywhere," the 40-year veteran of the company added. "In the pharmaceutical industry, making a drug is a huge investment, and there is no guarantee of success." Supplying other pharma companies as a contract development and manufacturing organization ((CDMO)) will deliver predictable contracts from a range of buyers and ensure a lower "magnitude of risk" than full-scale drug development, Goto said. In December, Avigan, FUJIFILM’s anti-viral drug, failed to show conclusive evidence of effectiveness against COVID-19.

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Fujifilm to focus on healthcare in its diversification drive: CEO