In a move which indicates that Japan-based food, pharmaceuticals, and specialty chemicals manufacturer Ajinomoto is aiming at new global acquisitions, recent reports have revealed that the company has struck an acquisition deal - worth approximately $175 million - with San Diego-based Althea Technologies, a 1998-founded contract drug manufacturer.

As per reports, Ajinomoto's acquisition of biopharmaceutical development and manufacturing company Althea - which is a contract manufacturer of drugs, proteins, and injectable products - is likely to close in April.

While the terms of the deal will allow Ajinomoto to take over Althea, the Japanese company - which reported $15.1 billion in worldwide sales in fiscal 2011 - will apparently continue to serve Althea's customers, which include Pfizer licensee Profectus BioSciences.

The Althea acquisition deal marks the latest takeover in the series of bio-pharma buyouts in the last few years. The acquisition is a strategic move by Ajinomoto because, even though the company is chiefly known for manufacturing the flavoring monosodium glutamate, it markets amino acids and other pharma products.

Noting that the Althea acquisition will enable Ajinomoto to combine its experience in biotechnology with Althea's sophisticated technology, Ajinomoto CEO Masatoshi Ito said in a statement: "We aspire to expand our business for biopharmaceuticals manufacturing in the U. S. market and strengthen our advanced biomedical businesses."