Tokyo, November 2, 2022—AGC Inc. (AGC; Headquarters: Tokyo; President: Yoshinori Hirai) hereby announces that it has decided to reorganize and establish a new in-house company, named the Life Science Company, effective January 1, 2023.
In 2016, the AGC Group designated the life science business, centered the pharmaceutical and agrochemical CDMO business, as one of the Group’s strategic businesses and established the Life Science Business General Division within the Chemicals Company in July of the same year. Since then, the AGC Group has expanded the geographic and technological fields of the business through aggressive M&A and capacity expansion investments, thereby achieving growth faster than initially expected.
The global pharmaceutical market is expected to continue to grow against a backdrop of population growth, increasingly sophisticated medical care, and the acceleration of manufacturing process outsourcing in the pharmaceutical industry. Consequently, the CDMO business, in which the AGC Group has been engaged, is expected to grow further.
Going forward, the AGC Group will continue to make proactive investments of its management resources in the life science business in such areas as new technologies including regenerative medicines, for which research is progressing toward practical application, as well as synthetic pharmaceuticals, agrochemicals, and biopharmaceuticals CDMO businesses, on which the Group has been building its business foundation. By making the life science business a new in-house company under the direct supervision of the CEO, the AGC Group aims for further growth of its life science business in the future.
AGC Chemicals Americas is a wholly owned subsidiary of AGC Inc., a $14.1 billion multinational corporation and one of the world’s largest manufacturers of glass, electronic displays and chemical products. The company was formed in 2004 through the merging of sister companies Asahi Glass Fluoropolymers USA and AGA Chemicals. Headquartered in Exton, Pennsylvania, including a state-of-the-art technology center, AGC Chemicals Americas maintains manufacturing operations in nearby Thorndale, Pennsylvania, a satellite sales office in Sao Paulo, Brazil and warehouses located throughout North America. www.agcchem.com