Fujisawa Buys 18.6% Stake In PharMingen
Japan's Fujisawa Pharmaceutical has made a $10 million equity investment in US biotechnology company PharMingen, giving it an 18.6% stake in the firm. PharMingen is said to be a worldwide market leader in reagents used to study immunology in mouse and rat animal models. Recently it has developed a product line for clinical research which includes monoclonal antibodies used in human leukocyte immunophenotyping.
In December 1992, Fujisawa obtained exclusive marketing rights in Japan for PharMingen's products and has been distributing these since July 1993. Through a more recent agreement, Fujisawa provided funds which enabled the US firm to expedite the development of important research products in several strategic areas. According to the Japanese company, PharMingen is now a major supplier for its medical equipment and supplies division.
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