Ajinomoto Co., Inc. agrees to acquire Althea Technologies, Inc.,
a U.S.-based biopharmaceutical CDMO*1 for approx. USD 175 million
Aim to Strengthen the Advanced Biomedical Business*2
TOKYO, March 6, 2013 -- Ajinomoto Co., Inc. (“Ajinomoto Co.”; President & CEO: Masatoshi Ito, Headquarters: Tokyo, Japan) announced today that it has executed a merger agreement to acquire all of the capital stock of Althea Technologies, Inc. (“Althea” (unlisted); President & CEO: Rick Hancock, Headquarters: San Diego, CA, U.S.A.), a leading biopharmaceutical CDMO, for approximately USD 175 million (approx. JPY 16 billion). Through this acquisition of Althea Technologies with its talented management and dedicated employees, Ajinomoto Co. aims to strengthen its business foundation and expand in the rapidly growing advanced biomedical field, in which Ajinomoto Co. aspires, including this acquisition, to achieve revenue of JPY 30 billion by 2020.
Biopharmaceuticals are drugs produced using biotechnology, which include proteins, peptides, and nucleic acids. Biopharmaceuticals can address unmet medical needs with high pharmacological efficacies and minimal side effects. The global market size for biopharmaceutical CDMO is estimated at USD 2.3 billion, and double digit growth is expected.
Althea, founded in 1998 in San Diego, CA, a hub for biotechnology companies, is a fully integrated contract development and manufacturing organization providing fill & finish, biologics manufacturing, analytical development, and stability testing services for biopharmaceutical companies. Althea possesses sophisticated technology, rigorous quality control, expertise for each manufacturing process required for biopharmaceuticals, and established relationships with its biopharmaceutical customer base. Ajinomoto Co., a market leader in amino acids for 100 years, developed unique biotech capabilities, and has recently been promoting its own contract process development business for biopharmaceuticals (Corynex®*3). Ajinomoto Co. aims to expand the business for biopharmaceutical development and manufacturing in the markets of North America, as well as Asia and Japan and strengthen the Ajinomoto Group's advanced biomedical business by combining its unique biotechnology with Althea's sophisticated technology, experienced personnel and expertise in cGMP*4 manufacturing and development.
Closing is contemplated to occur in April 2013 at which point Althea will become a fully consolidated subsidiary of Ajinomoto Co. The transaction will not affect Ajinomoto's financial performance in fiscal year 2012.
Sentiment: Strong Buy
not ALL IBM retirees have a great retirement package.It all depends on years in service and WHEN you retire ( what year) etc.
Actually they answered that they expect a 24.2 million dollar loss, which was what they reported. Management is lost.
He screams to accuse others of what he himself said. Why do longs look up to him? You must be desperate.
I will short more in the morning. Maybe by then a long will have done the research and can tell everyone why. Or maybe max just keep yelling til it's true.
one of the few worthwhile posts by kings
just search on PUMP PUMP PUMP (for all not 3 months) and you'll see some of its past admissions.
The shorts are drinking mild poison each time thry play their poisonous games. Soon, one morning, they will wake up and boom the poison is overdosing and they will all suffer a self inflict suicide!
By then. it will be too late and they will all die without knowing what has happened!
Sudden death would be too comfortable for them. It should be a slow, very painful and prolong death. They play a nasty game here and they should end with a tortureous death!
Very Strong Buy of Gale shares!!!
Sovereign Debt has evolved into a mythopoeic tale of transcendental giants. It's quite a step forward.
a few haven't been around since last weeks expiration. Most bashers are small time put gamblers cheering on their play.... Kinda like you see at the race track.... Option players, pumpers and dumpers, never last.....
Gene Burnett - Jump You F*#kers (A Song For Wall Street) - YouTube
Sentiment: Strong Sell
Sorry Fud. You've got your view and we've got ours. Your view is your own. Ours is not contingent on how we dazzle you. Our view stands whether you agree with it or not. Overbrook has talked himself blue on this topic. Nothing we say, nothing the attorneys say would ever be enough for you so why act like you're amenable to "proof." The only "proof" will be the jury verdict. You're search for "proof" -- what a joke.
Only thing getting stuffed here my friends is you up the Wazoo for buying those 175 Calls.