Japanese dental care products maker GC Corp, and private equity firm Unison Capital today agreed to buy domestic drugmaker Showa Yakuhin Kako from Tokio Marine Capital, for an undisclosed sum.
Private equity firm Tokio Marine Capital, which owns 50 per cent in Showa Yakuhin, had put the company for sale last year and had hired Citigroup hired to advice on the process.
Japanese private equity firm Polaris Capital Group holds 23 per cent of Showa Yakuhin, and PineBridge Investments holds another 23 per cent.
Tokyo-based Showa Yakuhin is a manufacturer of dental products and generic drugs. It owns Calonal, the top selling acetaminophen (a drug used to relieve pain and reduce fever) brand in Japan.
It also makes dental drug of ''Ora-Chu Cartridge'' anesthetic and maintains a profitable player position in a niche pharmaceutical market.
It expects a strong growth of Calonal sales once the large amount dosage for cancer pains and a wider application for arthritis are permitted by the Japanese government.