The Asia-based private equity firm MBK Partners is set to acquire Japanese drugmaker Alinamin Pharmaceutical. The buyout announced by MBK is estimated to worth 350 billion yen, or about 2.1 billion dollars.
MBK Partners says it has agreed to purchase the Alinamin shares from US private equity firm Blackstone Group.
The drugmaker handles a variety of over-the-counter medicines, such as cold remedies, as well as vitamin supplements and other health products.
It has a stated strategy to boost sales at convenience stores and supermarkets, as well as drugstores.
Alinamin has plans to expand operations in China, South Korea and Thailand. It is also targeting the Taiwan market where it set up a local unit two years ago.
Blackstone bought Alinamin in 2021 from Japanese drugmaker Takeda Pharmaceutical.