Toray Acquires Stake in Mitsui & Co.’s API Subsidiary

Toray Industries says it will acquire a 20% stake in Mitsui & Co.’s wholly-owned subsidiary MicroBiopharm Japan (MBJ; Tokyo). The two companies signed a share transfer agreement today. Financial terms of the deal were not disclosed. MBJ manufactures and contract manufactures active pharmaceutical ingredients (APIs) and pharma intermediates produced using proprietary production technology created by combining biotechnology with fermentation technology. It uses this technology also to produce and sell specialty chemicals. MBJ also manufactures and sells...

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