Bain Capital to acquire Mitsubishi Tanabe Pharma in $3.3 billion deal

Bain Capital announced today it has signed a definitive agreement to acquire Mitsubishi Tanabe Pharma Corporation (MTPC) in a carve-out transaction from Mitsubishi Chemical Group Corporation.

The acquisition values MTPC at approximately 510 billion JPY (3.3 billion USD) and is led by Bain Capital’s Private Equity teams in Asia and North America, along with its Life Sciences team.

MTPC, founded in 1678 and based in Osaka, focuses on priority therapeutic areas such as immunology and inflammation, vaccines, central nervous system disorders, diabetes, and metabolic diseases. The company employs over 5,000 people globally.

As an independent entity, Tanabe Pharma will continue its legacy of medical innovation while exploring growth opportunities through business development, licensing, enhanced R&D productivity, commercialization, and strategic acquisitions.

“Tanabe Pharma has delivered innovative medicines to Japanese patients for centuries, and we are proud to partner with MTPC in its next phase of growth and evolution,” said Masa Suekane, Partner and Head of Japan Healthcare at Bain Capital Private Equity.

Ricky Sun, Partner at Bain Capital Life Sciences, highlighted the promising growth potential in Japan’s life sciences industry. “This is an exciting opportunity to leverage our team’s clinical insights to build a scale platform focused on long-term drug development and bring transformative medicines to patients in Japan and globally,” he said.

Bain Capital’s Healthcare platform has supported global pharmaceutical companies such as Aiolos Bio, Avistone Pharmaceuticals, Cardurion Pharmaceuticals, Cerevel Therapeutics, Kailera Therapeutics, Stada, Tenacia Biotechnology, and Timberlyne Therapeutics. The firm has a significant presence in Japan, with over 70 investment professionals and more than 37 investments since establishing its Tokyo office in 2006.

The transaction is expected to close in the third quarter of 2025, pending customary closing conditions, regulatory clearance, and shareholder approvals.

Mitsubishi UFJ Morgan Stanley Securities and BofA Securities are acting as financial advisors, with Morrison Foerster, Mori, Hamada & Matsumoto, and Ropes & Gray serving as legal advisors to Bain Capital.