Ajinomoto to buy U.S. firm Althea

Kyodo

Ajinomoto Co. said Wednesday it will acquire California-based biopharmaceutical maker Althea Technologies Inc. in April to boost sales mainly in the North American market.

The Japanese company aims to bolster its drug business by combining the U.S. company’s technical expertise with its own biotechnological knowhow acquired through research on amino acids.

The acquisition cost is estimated at $175 million, or about ¥16 billion, it said.