Ajinomoto's $546M Acquisition of US-based Forge Biologics
jason tuinstra 4OfaTz6SdYs unsplash

Japan’s Ajinomoto agreed to acquire U.S.-based genetic medicines maker Forge Biologics Holdings for 82.8 billion yen ($546 million).

The transaction is expected to be completed in December 2023 pending regulatory approvals, Ajinomoto said a release.

Ajinomoto, whose primary business is in seasonings and processed foods, has a healthcare segment that focuses on drugs derived from amino acids.

Forge, based in the U.S. state of Ohio, is a contract development and manufacturing organization (CDMO) for gene-based therapies. Ajinomoto said Forge will integrate with its own AminoScience platform to work on new treatment options for rare diseases.

($1 = 151.7400 yen)

Source: Reuters

Related Articles

Investors/Business
Information
Since Feb 2020, with the onset of the Covid-19 global pandemic, things have changed slightly - J-REITs, which tend to be far more liquid and volatile than their underlying assets due to their very nature, have been trending down significantly in their share cost to Net Asset Value (NAV) ratios...
General, Investors/Business
News
Japan's former Prime Minister Shinzo Abe, who was assassinated on Friday, July 8th, had aimed to transform and revitalize the economy. When his government took office it was faced with the daunting task of revitalizing Japan’s once dynamic economy, which was still in the shadow of the major slowdown during the so-called “lost decade” from around 1991 to 2001. Abenomics did help drive growth, though not at the pace that the country had seen during its post-war boom.
General
News
Evacuation orders will be lifted in June for the first time in the residential zone considered the most heavily contaminated from 2011 nuclear disaster in Fukushima Prefecture. Residents who fled from the Noyuki district of Katsurao village northwest of the Fukushima No. 1 nuclear plant will be allowed to restart living there on June 12. The decision followed a meeting between central government officials handling the nuclear accident and Katsurao officials on May 16.
General, Investors/Business
Information, News
Japan’s government maintained its moderate economic recovery outlook in October’s report, noting improvements in employment and income. However, it flagged global risks, including high U.S. and European interest rates, China’s real estate stagnation, and Middle East conflicts.