GNI Group announced that it has completed the acquisition of all shares of Ayumi Pharmaceutical Holdings from shareholders led by Blackstone. The deal had an enterprise value of about JPY 44.8 billion (about $276 million). GNI Group completed the settlement through a combination of cash and the issuance of new shares, and the company will welcome Blackstone, Toho Holdings, and Hisamitsu Pharmaceutical as new shareholders.
GNI Group said the acquisition gives it the Japanese pharmaceutical business platform it has long viewed as the missing piece in its global strategy. The company described the deal as the beginning of its “Second Founding Phase,” positioning itself for sustainable growth across Japan, the U.S., China, and Australia.
Ayumi Pharmaceutical has a stable earnings base and strong capabilities in pain management. Its portfolio includes Calonal, an antipyretic and analgesic that has been widely used in Japan for more than 40 years.
Ayumi Pharmaceutical has an 83% domestic market share in acetaminophen products. The company recorded revenue of about JPY 38.5 billion for the fiscal year ended March 2026.
Following the acquisition, GNI Group will maintain the Ayumi Pharmaceutical company name and existing product brands, including Calonal. GNI Group said it will respect Ayumi Pharmaceutical’s position in the orthopedic and rheumatology fields while continuing to support a stable supply of safe and reliable medicines.
The acquisition significantly expands GNI Group’s sales platform in Japan. The company expects the platform to help accelerate the introduction of innovative medicines, biosimilars, and internally developed products into the Japanese market.
GNI Group also expects the acquisition to create a continuous earnings base in Japan. The deal further diversifies the company’s regional revenue base across Japan, the U.S., China, and Australia.
One of the strategic priorities behind the acquisition is transforming GNI Group’s earnings structure. The company said it aims to achieve structural profitability in Japan and turn the Japanese business into a growth contributor for the broader group.
GNI Group will also gain Ayumi Pharmaceutical’s sales network across medical institutions in Japan, particularly in orthopedic and rheumatology fields. The company plans to use this infrastructure to support the rollout of its own development products and overseas pharmaceutical products in Japan.
The acquisition is also intended to strengthen GNI Group’s global management base and diversify risk. By adding a stronger business platform in Japan, the company said it can reduce dependence on any single region and enhance corporate value over the medium to long term.
GNI Group is a global biopharma company headquartered in Japan, with operations in Japan, China, the U.S., and Australia. Its business spans research and development, manufacturing, sales, drug discovery, pharmaceutical development, commercialization, and medtech operations.
The company’s pipeline covers therapeutic areas including fibrosis, oncology, inflammatory diseases, and acute pain. Its key development candidate is F351, a potential treatment for liver fibrosis caused by hepatitis B.
KEY QUOTE:
“The acquisition of Ayumi Pharmaceutical marks an extremely important milestone in further strengthening our global business foundation across Japan, the United States, China and Australia. By integrating Ayumi Pharmaceutical’s robust domestic sales infrastructure and pain management product portfolio into our Group, we will be able to deliver more products directly to patients with unmet medical needs. We are honored to welcome Blackstone, Toho Holdings and Hisamitsu Pharmaceutical as new shareholders. Going forward, we will work closely with all stakeholders to advance the next stage of growth for our Group.”
Dr. Ying Luo, Representative Executive Officer, President and CEO of GNI Group
