TOKYO - Japanese health-care provider Qualicaps, a subsidiary of Mitsubishi Chemical, has acquired Brazilian capsule maker Genix, aiming to foray into the growing Latin American pharmaceutical market.
Qualicaps, the largest pharmaceutical capsule manufacturer in Japan with a market share of 50 percent, acquired the Brazilian company for around $43 million, the company said in a statement.
With the acquisition of the Genix pharmaceutical industry, which brings with it a market share of 50 percent, Qualicaps is seeking to penetrate the Central and Latin American markets and boost its global operations.
The pharmaceutical market in Latin America is valued at around $72 billion and is estimated to grow between 5-8 percent until 2019, said Qualicaps in the statement.
With this purchase, the Japanese company will become a leading manufacturer in the region, the third largest pharmaceutical market in the Americas after the United States and Canada, and eighth in the world.