TOKYO -- Japan's Mitsubishi Chemical Group announced on Friday the agreed sale of its pharmaceutical subsidiary, Mitsubishi Tanabe Pharma, to U.S. investment fund Bain Capital for approximately 510 billion yen ($3.36 billion), as it aims to turn around its sluggish core chemical business.
Mitsubishi Chemical expects to close the sales deal in the July to September period of 2025, and to post a transfer profit of approximately 95 billion yen. The company will thus separate its pharmaceutical business, which requires expenditure to expand new drug candidates, and will then focus on revitalizing its chemical businesses.
