GNI to Acquire Ayumi Pharmaceutical Holdings Co.

Research evidence excerpt

GNI to Acquire Ayumi Pharmaceutical Holdings Co.

Japan | Pharmaceuticals

GNI Group LTD EquityJuneResearch9, 2026

FIRST VIEWGNI to Acquire Ayumi Pharmaceutical

RATING RESTRICTEDHoldings Co.

PRICE ¥2,833^

Conclusion

On 8 June, GNI Group Co. announced that it has entered into an agreement PRICE TARGET | NA |

to acquire 100% of the shares of Ayumi Pharmaceutical Holdings from 52W HIGH-LOW ¥4,220 - ¥2,112

shareholders led by Blackstone. The acquisition significantly expands GNI FLOAT (%) | ADV MM (USD) 94.0% | ¥3.17B

Group’s commercial presence in Japan and establishes a large-scale MARKET CAP ¥157.7B | $984.1M

pharmaceutical platform that is expected to accelerate the introduction TICKER 2160 JP

^Prior trading day's closing price unless otherwise

of innovative therapies, biosimilars, and internally developed products into noted.

the Japanese market. Ayumi Pharmaceutical is a specialty pharmaceutical

company with leading positions in pain management and rheumatology.

Its flagship product, Calonal (acetaminophen), holds more than 80% of

Japan’s domestic acetaminophen market. The company also maintains a

broad portfolio of products serving rheumatology and orthopedic patients.

For FY3/26, Ayumi reported revenue of ~¥38.5bn and OP of ~¥6.2bn on a

consolidated basis.

(SOURCE Page 1 of 8 June Press Release

Detail

Strategic Benefits According to GNI's press release dated 8 June, this deal

establishes a large-scale and recurring revenue platform in Japan, creating

new licensing and commercialization opportunities. It also expands

GNI's capabilities in rheumatology, orthopedics, and pain management

through Ayumi's established products, commercial infrastructure, and

customer relationships. It enhances GNI's ability to introduce overseas