Blackstone targets health care sector in Japan push

TOKYO -- Blackstone on Wednesday announced the sale of Alinamin Pharmaceutical, a Japanese over-the-counter drugmaker it acquired in 2020, to Seoul-based private equity fund MBK Partners in a deal estimated at 350 billion yen ($2.2 billion). The sale is latest in a series of transactions by the U.S. private equity giant in the Japanese health care sector.

Under Blackstone's ownership, Alinamin Pharmaceutical expanded into four Asian markets, added a skin care business and acquired a company that makes Alinamin vitamin tablets.