Investment firm Bain Capital has reached an agreement to purchase Mitsubishi Tanabe Pharma in a transaction valued at approximately $3.3 billion. The historic pharmaceutical company, which has been in operation for nearly 350 years as part of Japan’s Mitsubishi Chemical Group, will continue its operations independently following the acquisition. The company will maintain its focus on developing vaccines and medications targeting neurological, cardiometabolic, and immunological conditions. Bain Capital partner Ricky Sun highlighted Japan’s promising life sciences sector and cited governmental and regulatory initiatives to accelerate drug development as key factors in the acquisition decision. The Osaka-headquartered company employs over 5,000 people worldwide.
In separate news, Bausch + Lomb’s attempts to separate from its parent company Bausch Health have been unsuccessful. The eye care company, which markets contact lenses, eye drops, and other ophthalmic products, had previously announced its intention to explore a potential sale. While the company received interest from a private equity firm, both companies’ boards determined that the offers received did not adequately reflect Bausch + Lomb’s long-term value potential. As a result, Bausch Health will retain its 88% ownership stake, though complete separation remains an eventual goal.
Roche has reported promising results from its Phase 3 Regency trial, showing that combining its drug Gazyva with standard therapy helped preserve kidney function in lupus nephritis patients. The study demonstrated that 46% of patients receiving the combination treatment maintained kidney function, compared to 33% who received standard care alone. The detailed findings, published in the New England Journal of Medicine, could support Roche’s efforts to expand Gazyva’s approved uses beyond lymphoma to include lupus treatment. The company is currently engaging with health authorities in both the United States and Europe.
Massachusetts-based X4 Pharmaceuticals has announced a significant restructuring, including a 30% reduction in its workforce, affecting 43 employees. The company will suspend early-stage research activities and close its Vienna, Austria facility to focus resources on its lead drug program. X4 plans to concentrate on the development and commercialization of mavorixafor (marketed as Xolremdi) for WHIM syndrome and chronic neutropenia. The restructuring is expected to reduce annual expenses by $30-35 million and extend the company’s operational runway into 2026.
Viracta Therapeutics has announced plans to cease operations and lay off its entire staff of approximately 16 employees. The company’s board has appointed Craig Albert as president and CEO to oversee the wind-down process and seek potential buyers for its primary asset, an experimental drug combination developed for Epstein-Barr
virus-associated cancers. Prior to this decision, Viracta had already implemented two rounds of layoffs in 2024 to preserve its cash reserves, which stood at $13 million as of September’s end. The company had previously gone public through a merger with Sunesis Pharmaceuticals in 2020.