Global private equity firms Blackstone and Bain are reportedly in the final stages of bidding for Mitsubishi Tanabe Pharma, a subsidiary of Japan’s Mitsubishi Chemical Group, in a deal expected to be valued between $3bn and $3.5bn, according to a report by Reuters.
According to three sources familiar with the matter, Goldman Sachs has been engaged by Mitsubishi Chemical to oversee the sale process, with binding bids due on 24 December.
Japanese private equity firm Japan Industrial Partners (JIP) is also vying to acquire the business, according to the unnamed sources.
In September, Mitsubishi Chemical stated that it regularly reviews its portfolio and is considering various strategic options, including divestment, as part of its ongoing evaluation of business priorities.
Founded more than 90 years ago and headquartered in Osaka, Tanabe Pharma develops drugs targeting central nervous system disorders, immuno-inflammation, and oncology. The company operates in over a dozen locations across three continents, according to its website.
During the first half of the fiscal year ending March 2025, the company disclosed that Mitsubishi Chemical’s pharmaceutical segment reported a 6% rise in sales revenue to 232.5bn yen and a 28% increase in core operating income, reaching 41.4bn yen.
