Glass manufacturer strengthens life science business in 60 billion yen deal
Asahi Glass Company (TYO: 5201), a global glass manufacturing firm known as AGC, has announced a new deal with a biopharmaceutical contract development and manufacturing organization (CDMO).
AGC is to acquire 100% of the shares in CMC Biologics, the active pharmaceutical ingredient (API) manufacturer with production facilities in Denmark and the USA and backed by investors including Monitor Clipper Partners and European Equity Partners, for around 60 billion Japanese yen ($510 million).
CMC provides high value-added cell line construction, process development, scale-up and manufacturing of APIs used in drug development and in commercially marketed biopharmaceutical drugs.
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