AGC Acquires CMC Biologics


AGC Asahi Glass has agreed to acquire biomanufacturer CMC Biologics in a deal valued at ¥60 billion ($500 million). PharmSource estimates that the price represents a multiple of about 3.3x revenues and more than 10x EBITDA. The selling shareholders are three private equity firms: Monitor Clipper Partners; European Equity Partners; and Innoven Partenaires. Closing is expected this month.

This is AGC’s second acquisition of a biomanufacturing business in the past six months. In September 2016, it acquired BIOMEVA, a provider of microbial fermentation contract manufacturing services with scale to 1000 L. The company also has two sites in Japan.

With AGC’s acquisition of CMC Bio, only two biologics CMOs with significant scale remain independent: Cook Pharmica and Rentschler Biotechnologie. The rest are all part of larger, mostly public, corporate parents.

This article is reprinted from the January issue of Bio/Pharmaceutical Outsourcing Report. The full article provides a list of AGC facilities and capabilities following their acquisition of CMC Biologics. To learn more, click here.

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Jim Miller is the founder and president of PharmSource Information Services, Inc. A preeminent expert in bio/pharmaceutical outsourcing, Jim established and presides over the industry’s principal resource for serious consumers of information on contract drug development and manufacturing, PharmSource STRATEGIC ADVANTAGE. He is editor and publisher of Bio/Pharmaceutical Outsourcing Report and Emerging Markets Outsourcing Report.

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