Taisho Pharmaceutical Co. said Monday it has concluded a business tieup with Yomeishu Seizo Co., including acquiring a 6.6 percent equity stake in the herbal beverage maker, to develop new health-care products.
The agreement calls for the partners to seek ways of branching into the China market, Taisho said.
The drugmaker decided to conclude the agreement to utilize Yomeishu's herbal medicine technology amid growing consumer interest in health.
According to a Taisho spokeswoman, the company will spend a little more than 2 billion yen to acquire a 6.6 percent stake in Yomeishu.
Yomeishu, for its part, will purchase Taisho shares worth up to that amount from the market.