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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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