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news.Japan-based Toray Industries has signed an agreement to acquire a 20% stake in Mitsui's wholly-owned subsidiary MicroBiopharm Japan (MBJ).
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MBJ is involved in the manufacture, including contract manufacturing, and sale of pharmaceuticals (API, intermediates) made using proprietary production technology.
The technology created by combining biotechnology with fermentation can also be used to produce and sell fine specialty chemicals.
Futhermore, MBJ manufactures and sells pharmaceuticals including anticancer drugs, through its Chinese affiliate, Shenzhen Main Luck Pharmaceuticals in which it has a 34% shareholding.
According to Toray, this investment would be an opportunity to expand its technology sharing with MBJ to discover new drugs and enhance its manufacturing infrastructure.