Overview
- Mitsubishi Chemical has agreed to sell its pharmaceutical subsidiary, Mitsubishi Tanabe Pharma, to U.S. private equity firm Bain Capital for 510 billion yen ($3.36 billion).
- The sale is part of Mitsubishi Chemical's efforts to focus on its core chemicals business and enhance shareholder returns.
- Bain Capital sees potential growth in Japan's life sciences sector, citing government initiatives to accelerate drug development and approvals, particularly for orphan and pediatric medicines.
- Mitsubishi Tanabe Pharma, headquartered in Osaka, specializes in drugs targeting the central nervous system, immuno-inflammation, and oncology, with operations spanning three continents.
- The deal highlights a trend of private equity-led buyouts in Japan, driven by companies divesting non-core assets to boost corporate and shareholder value.