10. Fujifilm Holdings
R&D Spending: $663,700,000
Percentage of revenue: 14.4%
2020 overall ranking: 24
As part of its R&D strategy, Fujifilm launched a Cambridge, Mass.-based life sciences office in May 2019. The office’s opening is part of the company’s overall commitment to life sciences after it previously established a Fujifilm Fellowship Fund with Harvard Medical School to support Ph.D. candidates focused on therapeutic innovation, sponsored research at the Massachusetts Institute of Technology’s Koch Institute for Integrative Cancer Research and invested in Lyndra Therapeutics’ Series B round to support Phase II clinical trials of its therapies.
Fujifilm also made the move to acquire Hitachi’s medical imaging business for $1.56 billion in December 2019. The deal was slated to improve Fujifilm’s ability to compete globally against medical imaging giants like GE Healthcare, Philips, Siemens and Canon.
In the first half of its 2021 fiscal year, which ended Nov. 10, 2020, Fujifilm had put $318,780,185 toward R&D, compared with $334,143,085 during the first half of its FY 2020.
In September 2020, Fujifilm Sonosite announced that it had received 510(k) clearance from the FDA for its entire point-of-care ultrasound (POCUS) portfolio for lung and cardiac imaging.