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Toray to Acquire Equity Stake in Mitsui Subsidiary MicroBiopharm
 

Tokyo, Jan 5, 2012 (JCN) - Toray Industries Inc. will be acquiring a 20% stake in Mitsui & Co. Ltd's wholly-owned subsidiary MicroBiopharm Japan Co. Ltd (MJB).

MBJ is involved in the manufacture, including contract manufacturing, and sale of pharmaceuticals (API, intermediates) produced using proprietary production technology created by combining biotechnology with fermentation technology developed over many years. It also uses this technology to produce and sell fine specialty chemicals. In addition, MBJ manufactures and sells pharmaceuticals, especially anticancer drugs, through its Chinese affiliate Shenzhen Main Luck Pharmaceuticals Inc., in which it has a 34% shareholding.

Toray sees this investment as an opportunity to expand its technology sharing with MBJ, discover new drugs and strengthen its manufacturing infrastructure. It will also provide new impetus for the expansion of MBJ's product categories. Mitsui aims to use its global network and business experience in the medical and healthcare field and chemicals segment to help MBJ products achieve a larger share in the world market. Both Toray and Mitsui intend to use their experience and know-how to enhance the potential of MBJ while also strengthening their relationship in the medical and healthcare field and chemicals segment through their collaboration with MBJ.

By Chris Lui Staff Writer

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