AGC Inc., manufacturer of glass, chemicals and high-tech materials, enters into an agreement with Boehringer Ingelheim to acquire its subsidiary Malgrat Pharma Chemicals, S.L.U. (MPC). Located in Spain, MPC manufactures synthetic pharmaceutical active ingredients used for pharmaceutical products that are produced by chemical synthesis.
By acquiring MPC, AGC will have its first FDA-registered site in Europe in the synthetic pharmaceutical contract development and manufacturing organization (CDMO) business. The acquisition remains subject to approval from the relevant antitrust authorities and the fulfillment of closing conditions under the share purchase agreement.
MPC reportedly has vast experience manufacturing commercialized synthetic pharmaceuticals that are compliant with current Good Manufacturing Practice (cGMP) standards, as well as compounds in clinical development on a range of scales. Leveraging AGC’s fluorination technologies, extensive in-house drug discovery experience, and CDMO business in Japan, the acquisition will enable AGC to cater its CDMO services to European customer requirements and expand its presence in that market, according to the company.
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