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

General
Information, News
Fujitsu is joining the exodus of companies moving their main offices out of Tokyo as remote work catches on in Japan and reduces the need to maintain expensive office space. It said the move is the result of a review of the company’s office needs now that so many employees are working from home. The tech giant announced on Sept. 22 that they will relocate their HQ from Minato-ku to Kawasaki city by the end of September next year.
General
News
As of this year, Japan’s ecommerce market is set to be worth $150.1 billion (£105.7 billion), with a compound annual growth rate of 6.2 per cent, according to a 2020 report by JP Morgan. Meanwhile, overall Japanese retail sales rose at the fastest pace – by 5.2 per cent – in five months in March this year as consumer demand recovered from the huge hit it took from the pandemic.
General
News
Japan's Finance Minister Shunichi Suzuki said on Friday he would not rule out any options in taking action in the foreign exchange market if sharp weakening in the yen persisted. Suzuki said a weak yen has both merits and demerits, and he could not label it as right or wrong. Market attention is focused on a slew of monetary policy meetings by the Federal Reserve, the Bank of Japan, and the Bank of England next week.
General
Information, News
Many properties are remodeled homes or company dormitories that had been left vacant or become dilapidated, and with bookings accepted from only one party for the entire facility per day, they make unique retreats for people seeking seclusion.The facilities are quietly gaining popularity, mainly among families making steady requests for reservations, with users able to enjoy their privacy and avoid physical contact with strangers in these pandemic-hit times.