MediPal Holdings Corporation (TSE:7459) entered into an agreement to acquire 22% stake in JCR Pharmaceuticals Co., Ltd. (TSE:4552) from Glaxo Group Limited for ¥21.2 billion on September 21, 2017. Under the terms of the transaction, MediPal Holdings will acquire 7.13 million shares at ¥2,970 per share. Upon completion, MediPal Holdings will hold 22.46% stake in JCR Pharmaceuticals Co., Ltd. The transaction was resolved by the board of directors of MediPal Holdings Corporation.

The transaction is expected to be closed in late October 2017. Nomura Holdings, Inc. acted as financial advisor in the transaction. Citigroup Global Markets Japan Inc. acted as financial advisor for Glaxo Group Limited.