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Outsourcing

AGC to bolster drug services with MolMed acquisition

by Rick Mullin
March 21, 2020 | APPEARED IN VOLUME 98, ISSUE 11

 

Aiming to add gene and cell therapy to its drug contract development and manufacturing business, the Japanese glass and chemical firm AGC is buying MolMed, a clinical-stage biotech services firm, for about $260 million. Based in Milan, MolMed specializes in viral vectors and cell engineering. AGC acquired Malgrat Pharma Chemical, a Spanish maker of pharmaceutical chemicals, from Boehringer Ingelheim in 2018. AGC targets annual sales of about $900 million for its drug services business by 2025.

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