Full translation summary from PharmAsia News - February 18, 2009
TOKYO - Asahi Kasei Medical, a unit of Japan's Asahi Kasei, has reached an agreement to fully acquire TechniKrom, a bioprocess equipment manufacturer, in a merger that the company hopes will spark growth between its filtering technology and the U.S. firm's bioprocess equipment systems for biopharmaceutical manufacturing materials, the Japanese parent company announced Feb. 16.
The two companies will sign the definitive agreement and consolidate each other's operations March 1. Asahi Kasei Medical did not disclose the acquisition amount. Company Spokesman Tsuneo Kodera declined Feb. 17 to comment on the sum.
Glenview, Ill. based TechniKrom has been manufacturing equipment for Asahi Kasei Medical's proprietary Planova filters for virus removal during biopharmaceutical production but they had no capital relationship until now, Kodera said.
Kodera claimed that his company's Planova, as well as Sepacell, a filter that removes white cells from blood, are among the best-selling medical filters in the world. The "Planova virus removal filters are highly regarded by pharmaceutical manufacturers throughout the world for viral safety; they enable in bioprocess production and are relied on in the production processes for a wide range of biotherapeutics," he said.
TechniKrom manufactures bioprocess equipment that uses filters and other devices for the production of biopharmaceuticals, but it does not manufacture filters, Kodera said.
With the TechniKrom acquisition, Asahi Kasei Medical has become a leading integrated bioprocess equipment and systems supplier, paralleling GE Medical, Pall Corp. and Millipore Corp., Kodera said.
"We are going to expand this business - and as quickly as possible," Kodera said. By 2015, Asahi Kasei anticipates increasing bioprocess equipment sales to ¥18 billion ($190 million) annually from ¥1 billion earned by TechniKrom last year, the spokesman told PharmAsia News.
Asahi Kasei Group is accelerating plans to expand its medical business under its "growth action 2010 management initiative," the company said. Asahi Kasei Medical announced Jan. 30 a ¥2.5 billion investment to double its production capacity for virus filters by 2010.
Chiba Bank Asset Management Executive VP Fujio Ando said Asahi Kasei historically commands the top presence in textiles, fabrics and filters. Asahi Kasei Kuraray Medical, Asahi Kasei Medical's sister operation, is Japan's top manufacturer and supplier of filters for dialysis, he said. The group also manufactures pharmaceuticals for bulk sales. Medical and pharmaceuticals account for slightly more than 10 percent of the group's revenues.
- Toshio Aritake
PharmAsia News covers drugs, biotech and devices in the Pacific Rim.
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