US private equity company Bain Capital has agreed to acquire Mitsubishi Tanabe Pharma Corp. (MTPC) from Mitsubishi Chemical Group Corp. in a deal that values the business at approximately 510 billion Japanese yen ($3.3 billion).
Headquartered in Osaka, Japan, MTPC focuses on several therapeutic areas, including immunology and inflammation, vaccines, central nervous system (CNS), diabetes and metabolic disease and employs over 5,000 people globally.
In a statement, Bain said that the independent company plans significant investment in innovation, both internal product development and external licensing and acquisitions.
As an independent company, Tanabe Pharma will continue to build on its legacy of medical innovation while developing new opportunities for growth through business development, licensing activities, enhanced R&D productivity, commercialization and strategic acquisitions.
“Tanabe Pharma has been delivering innovative medicines to Japanese patients for centuries, and we are proud to partner with MTPC and support its next phase of growth and evolution,” said Masa Suekane, a partner and head of Japan Healthcare, Industrials and Financial Services at Bain.”
Source: chemanager-online.com
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