05 December 2018 | News
Acquisition Will Give AGC Foothold in Europe and Broaden Its Pharma CDMO Business
AGC Inc., a world-leading manufacturer of glass, chemicals and high-tech materials, has announced that it has entered into an agreement with Boehringer Ingelheim to acquire Malgrat Pharma Chemicals S.L.U. ("MPC").
MPC is a subsidiary of Boehringer Ingelheim that manufactures synthetic pharmaceutical active ingredients for the group. By acquiring MPC, AGC will have its first FDA-registered site in Europe in the synthetic pharmaceutical CDMO business.
The deal remains subject to approval from the relevant antitrust authorities and the fulfillment of closing conditions under the share purchase agreement.
MPC has vast experience manufacturing cGMP -compliant commercialized synthetic pharmaceuticals as well as compounds in clinical development on a range of scales. Leveraging AGC's fluorination technologies and extensive experience in in-house drug discovery and the CDMO business built up in Japan, AGC, with the addition of MPC, will be able to offer its CDMO services from a broader asset base, catering to European customer requirements and expanding its presence in the European market.
The AGC Group's "AGC plus" management policy identifies life sciences as one of its strategic businesses. AGC will continue to actively invest in this field so as to be able to provide globally unified high-quality services to customers in both the synthetic drug and biopharmaceutical businesses.
Further, by maximizing the synergies of each location, the group's technical capabilities will be enhanced, making it possible to better contribute to pharmaceutical companies, patients, and wider society in general.