TOKYO - Fujifilm said Monday it would buy a U.S. vaccine maker as the Japanese firm increases its supply of an experimental Ebola drug to help stem the spread of the virus.

The deal would see Fujifilm (IW 1000/195) take a 49% stake in Kalon Biotherapeutics, with plans to buy the whole company "in the future," the company said, without supplying financial details.

Japan's leading Nikkei business daily said the acquisition would be worth several billion yen (tens of millions of dollars).

Kalon, established in 2011 by the State of Texas and Texas A&M University as a contract maker of biopharmaceutical products, can safely handle and produce vaccines against deadly pathogens including anthrax, Fujifilm said, as it looks to further tap the health sector.

Fujifilm said last week it would increase its stock of Avigan, which has been given to several patients who were evacuated from Ebola-hit West Africa to Europe.

#Fujifilm's Ebola drug underscores new face of #Japan Inc. http://t.co/vzjniLdNg0
— Phys.org Technology (@physorg_tech) October 27, 2014

The firm said it has enough Avigan tablets -- approved as an influenza drug in Japan -- to treat 20,000 people and enough of its active ingredient for 300,000 treatments.

Some research papers report that Avigan has been effective in testing with mice, the company said.

The governments of France and Guinea are planning to conduct clinical trials with Avigan in mid-November.

If the drug proves effective against a virus that has killed nearly 5,000 people, it would burnish Fujifilm's credentials in the pharmaceutical field.

It would also lend support to its broader move into a range of sectors -- including cosmetics, dietary supplements and medical equipment -- after demand for camera film plummeted a decade ago.

Fujifilm, once among the biggest makers of film, has been moving into new sectors as it traditional business suffers.

The company previously bought two biopharmaceutical firms from U.S. drug giant Merck, while it launched beauty product businesses that include anti-aging face creams under the brand Astalift.

Chevy 2020 Silverado In Canada Gm General Motors © Dennizn Dreamstime

GM Improves Earnings in Third Quarter, Plans $700 Million Canada Investment

The Detroit automaker plans to return pickup production to a plant in Ontario to support better-than-expected demand.

IW Staff

Nov 05, 2020

General Motors Co. released newly positive third-quarter earnings after a net loss in the second quarter of $800 million. On November 5, the automaker said it had made $4 billion income out of $35.5 billion in net revenue compared to $2.35 billion a year earlier.

In a separate November 5 announcement, CEO Mary Barra said the company would invest 1 billion Canadian dollars ($760.6 million USD) in its Oshawa, Ontario plant. The announcement followed a tentative agreement between GM and Unifor, a Canadian union that represents hourly workers.

The company’s adjusted auto operating cash flow for the quarter was $9.1 billion, and its earnings margin before interest and tax was 14.9%. According to the company, automotive liquidity of $37.8 billion was above target, and the company says it expects to repay its revolving credit balance by the end of the year.

The positive earnings were driven by internal cost-saving austerity measures as well as by faster-than-expected rising sales in the U.S. and China, a pattern also noted by fellow automakers Ford Motor Co. and FCA.

Despite an overall 10% drop in sales over the course of the quarter, U.S. sales improved sequentially each month for the quarter with strong demand for crossovers, full-size pickups, and large SUVs. GM’s gains in China saw sales grow 12% there on a year-over-year basis. The Wuling Hong Guang Mini electric vehicle became the best-selling electric vehicle in China, and sales of Buick and Cadillac cars rose 26% and 28%, respectively.

CEO Mary Barra said the company’s performance for the year and the quarter was “a testament to GM’s resilience.”

“We entered the pandemic in a strong position and acted decisively to keep our teams safe, conserve cash and preserve liquidity, all while keeping our critical product programs on track,” she said, adding that the company is now “well positioned” to meet rising consumer demand.

Meanwhile in Canada, General Motors says the new Canadian investments would result in the hiring of between 1,400 to 1,700 new workers in its Oshawa Assembly plant. GM plans to use the money to build a new body shop and flexible assembly module to return pickup assembly to the plant. According to GM Canada President Scott Bell, pickups make up “GM’s largest and most important market segment in Canada.”