Mitsubishi Chemical eyes Qualicaps

Kyodo

Mitsubishi Chemical Holdings Corp. is considering acquiring the world’s second-largest pharmaceutical capsule maker from a U.S. investment fund to bolster its drug business, sources said Tuesday.

Mitsubishi Chemical seeks to turn Qualicaps Co. in Nara Prefecture into a subsidiary at a cost of some ¥50 billion.

Since Mitsubishi Chemical’s core petrochemical business faces competition posed by cheap imports from China and other countries, the firm seeks to shore up its operations by focusing more on drug-related businesses.