Japanese drug developer buys US virus reagent maker

Medical & Biological Laboratories, a Japanese drug development company, says it has purchased Bion Enterprises, an Illinois, USA-based virus reagent maker, through a US sales unit. The value of the deal was not disclosed, reports the JCNNetWork.

The acquisition will allow the Japanese firm to develop and sell its products in the USA. The company also hopes to expand its business in South American nations through the new base. The transaction is expected to raise M&BL group sales by 200.0 million yen ($1.9 milli0n) in the current business year.