AYUMI Pharmaceutical

What AYUMI Pharmaceutical does

AYUMI Pharmaceutical Corporation (あゆみ製薬株式会社) is a Tokyo-based specialty pharmaceutical company focused on rheumatology and orthopedics, founded in January 2015 by inheriting the 30-year anti-rheumatic drug business from Santen Pharmaceutical (in August 2015) and the Calonal acetaminophen analgesic franchise from Showa Yakuhin Kako (in December 2015). The company operates a portfolio of branded ethical pharmaceuticals, generics, and biosimilars across four priority disease areas — pain, rheumatoid arthritis, osteoarthritis, and osteoporosis — plus inflammatory bowel disease. Its flagship product is Calonal, which holds more than 80% of Japan's domestic acetaminophen market. AYUMI has built a four-asset biosimilar franchise under the BS "MA" sub-brand: Infliximab BS "AYUMI" (2017), Etanercept BS "MA" (2018), Adalimumab BS "MA" (2021), and Tocilizumab BS "MA" (approved March 2026), with the Tocilizumab product developed and manufactured by Mochida Pharmaceutical and marketed by AYUMI. The conventional portfolio includes anti-rheumatic DMARDs (Rimatil bucillamine, Azulfidine EN, Methotrexate, Tacrolimus, Iguratimod), osteoporosis therapies (Bonoteo/Recalbon minodronic acid, Raloxifene, Ostabaro teriparatide via MA transfer), and various generic antibiotics, antihistamines, and supportive drugs.

AYUMI runs a vertically integrated operating model with in-house manufacturing at the Tamagawa Factory (Kawasaki), Seto Factory (Aichi), and Atsugi Plant, complemented by partner-supply for biologics (Mochida for tocilizumab) and osteoporosis brands (Astellas, Ono, Teijin). The company monetizes primarily through unit-volume sales to Japanese pharmaceutical wholesalers under the National Health Insurance (NHI) drug-price system, with all ethical-pharma revenue subject to biennial NHI reimbursement revisions. A high-touch Medical Representative (MR) field force engages rheumatologists, orthopedists, gastroenterologists, pediatricians (JIA), and dispensing pharmacists, supported by a medical-professional microsite, a 24/7 chatbot (Ayumi Chat 24), a drug-inquiry call center, co-sponsored seminars, HCP email newsletters, and patient-facing self-injection training materials. The Calonal trademark is also licensed to Daiichi Sankyo Healthcare for OTC sale as Calonal A, opening a consumer-health revenue stream.

The company is privately held, controlled by Ayumi Pharmaceutical Holdings, which in turn is owned by private equity funds managed by Blackstone (NYSE: BX). Headcount stood at 353 direct employees as of April 1, 2025 (up from 319 as of April 1, 2023). For the fiscal year ending March 2026, AYUMI reported revenue of ¥38.5 billion and operating profit of ¥6.2 billion (~16% margin). In June 2026, GNI Group Co., Ltd. announced a definitive agreement to acquire 100% of Ayumi Pharmaceutical Holdings from Blackstone-led shareholders for approximately ¥44.8 billion, with combined GNI+AYUMI FY2026 revenue expected at ~¥65.2 billion; the deal was not yet closed as of the news date. AYUMI is led by President and Representative Director Jugo Tsumura (津村重吾). The business is operated entirely in Japan under the JPMA framework, with industry memberships in JPMA (since 2016) and the Japan Generic Manufacturers Association, and full compliance with GCP/GPSP/GVP and the Personal Information Protection Act.

Name

AYUMI Pharmaceutical

Legal name

あゆみ製薬株式会社 (AYUMI Pharmaceutical Corporation)

Website

https://ayumi-pharma.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

251–500 employees

Short description

AYUMI Pharmaceutical is a Tokyo-based specialty pharmaceutical company focused on rheumatology, orthopedics, and pain, with a dominant Japan acetaminophen brand (Calonal, >80% share) and a four-asset biosimilar franchise (BS "MA") marketed to specialists and dispensed via Japan's NHI wholesalers.

Ownership category

akta.pro rank

Product category

Specialty Pharmaceuticals

NAICS

Pharmaceutical Preparation Manufacturing (325412), Biological Product (except Diagnostic) Manufacturing (325414)

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Immunology & Inflammation Pharmaceuticals (HLAIAAAD)

akta.pro secondary industry

Pain Management & Anesthesiology Pharmaceuticals (HLAIAAAN)

Keywords

• Specialty pharmaceuticals
• Anti-rheumatic drugs
• Biosimilar medicines
• Rheumatology orthopedics
• Acetaminophen analgesics

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Ethical pharmaceutical product sales: Sales of branded ethical pharmaceuticals (anti-rheumatics, analgesics, immunosuppressants, osteoporosis therapies, biosimilars) primarily to wholesalers and healthcare institutions under the Japanese NHI drug-price system; revenue is driven by unit volume × reimbursed drug price, with multiple SKUs per active ingredient.
2. Biosimilar (BS) product sales: Recurring revenue from sales of multi-asset biosimilars (etanercept, adalimumab, tocilizumab, infliximab) priced lower than originator biologics, providing scale benefits through the Japanese reimbursement system.
3. OTC pharmaceutical line (Calonal A): Limited OTC channel via Daiichi Sankyo Healthcare's sale of Calonal A (an OTC acetaminophen brand), leveraging the prescription Calonal trademark in the consumer health market.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels6 records

Core offering

AYUMI Pharmaceutical is a Japan-based specialty pharmaceutical company that develops, manufactures and sells ethical drugs focused on rheumatism, orthopedics, pain and biosimilar therapy. Its portfolio includes the Calonal acetaminophen franchise (>80% Japan domestic market share), legacy anti-rheumatic brands (Rimatil bucillamine, Azulfidine EN salazosulfapyridine), generic DMARDs (methotrexate, tacrolimus, iguratimod), osteoporosis therapeutics (minodronic acid, raloxifene, teriparatide) and a multi-asset biosimilar line (Etanercept BS "MA", Adalimumab BS "MA", Infliximab BS "AYUMI", Tocilizumab BS "MA"). Products are manufactured in-house at the Tamagawa and Seto factories and distributed to Japanese healthcare institutions through wholesalers under the NHI drug-price system, with MR-led specialist engagement.

Product overview

AYUMI Pharmaceutical Corporation (あゆみ製薬株式会社) operates a specialty pharmaceutical business focused on rheumatology and orthopedics, organized as a portfolio of individual branded drug products rather than a unified platform. The portfolio centers on three pillars: (1) flagship analgesics led by the Calonal acetaminophen series (holding >80% of Japan's domestic acetaminophen market, inherited from Showa Yakuhin Kako); (2) anti-rheumatic drugs including the Rimatil bucillamine and Azulfidine salazosulfapyridine brands inherited from Santen Pharmaceutical, plus Methotrexate, Tacrolimus, and Iguratimod (the latter as an authorized generic of Carelam); and (3) a growing biosimilars franchise comprising Etanercept BS "MA", Adalimumab BS "MA", Infliximab BS "AYUMI", and Tocilizumab BS "MA" (the latter approved in March 2026). Complementary offerings include the osteoporosis therapeutics Bonoteo/Recalbon (minodronic acid) and Raloxifene, plus diagnostic and supportive products like Fluorescein test strips and Aftasolon oral ointment. Supporting digital/patient services include the Ayumi Chat 24 healthcare-professional chatbot, a high-cost medical expense simulator, an expiration date lookup tool, and patient self-injection training materials.

Differentiator

Problem solved

Functional benefit

Brands

• Calonal (カロナール): Flagship acetaminophen (解熱鎮痛剤) brand; holds more than 80% of Japan's domestic acetaminophen market, inherited from Showa Yakuhin Kako's medical business.
• MA (biosimilar series)

Products and services

• Calonal (カロナール) acetaminophen series AYUMI Pharmaceutical's flagship acetaminophen (analgesic/antipyretic) product line, available in tablets (200mg, 300mg, 500mg), fine granules (20%, 50%), suppositories (50, 100, 200, 400mg), pediatric suppositories (50mg), syrup 2%, and bulk powder; holds more than 80% of Japan's domestic acetaminophen market. Inherited from Showa Yakuhin Kako's medical business in December 2015.
• Etanercept BS "MA" (エタネルセプトBS「MA」) biosimilar Biosimilar of etanercept (TNF-alpha inhibitor) for rheumatoid arthritis, juvenile idiopathic arthritis and other autoimmune diseases; available in vials (10mg, 25mg), syringes (25mg/0.5mL, 50mg/1.0mL), and pen injectors (25mg/0.5mL, 50mg/1.0mL); supports patient self-injection. Launched 2018.05.30.
• Adalimumab BS "MA" (アダリムマブBS「MA」) biosimilar Biosimilar of adalimumab (TNF-alpha inhibitor) for rheumatoid arthritis, psoriatic arthritis, ankylosing spondylitis, juvenile idiopathic arthritis, psoriasis, Behçet's disease, ulcerative colitis, and Crohn's disease; available in syringes (20mg/0.2mL, 40mg/0.4mL, 80mg/0.8mL) and pen kits (40mg/0.4mL). Launched 2021.11.25.
• Tocilizumab BS "MA" (トシリズマブBS「MA」) biosimilar Biosimilar of tocilizumab (humanized anti-human IL-6 receptor monoclonal antibody) for rheumatoid arthritis and other inflammatory conditions; available in IV infusion (80mg, 200mg, 400mg per vial) and subcutaneous forms (162mg syringe, 162mg auto-injector). Manufactured by Mochida Pharmaceutical and marketed by AYUMI under the BS "MA" brand.
• Infliximab BS IV Infusion 100mg "AYUMI" (インフリキシマブBS点滴静注用100mg「あゆみ」) biosimilar
• Methotrexate Tablets 2mg "AYUMI" (メトトレキサート錠2mg「あゆみ」)
• Tacrolimus Tablets "AYUMI" series (タクロリムス錠「あゆみ」) Generic tacrolimus hydrate (immunosuppressant) for organ transplantation, bone marrow transplantation, rheumatoid arthritis, lupus nephritis, ulcerative colitis, polymyositis/dermatomyositis-associated interstitial pneumonia and myasthenia gravis; available in 0.5mg, 1mg, 1.5mg, 2mg, 3mg and 5mg tablet strengths.
• Rimatil Tablets (リマチル錠) — Bucillamine Bucillamine (anti-rheumatic drug / DMARD) for rheumatoid arthritis when sufficient efficacy is not obtained with anti-inflammatory analgesics; available in 50mg and 100mg sugar-coated tablets. Original brand inherited from Santen Pharmaceutical.
• Azulfidine EN Tablets (アザルフィジンEN錠) — Salazosulfapyridine Salazosulfapyridine enteric-coated tablets (anti-rheumatic drug / DMARD) for rheumatoid arthritis and ulcerative colitis; available in 250mg and 500mg strengths. Inherited from Santen Pharmaceutical.
• Iguratimod Tablets 25mg "AYUMI" (イグラチモド錠25mg「あゆみ」)
• Bonoteo Tablets (ボノテオ錠) and Recalbon Tablets (リカルボン錠) — Minodronic acid
• Raloxifene Hydrochloride Tablets 60mg "AYUMI" (ラロキシフェン塩酸塩錠60mg「あゆみ」)
• Ostabaro Subcutaneous Injection Cartridge 1.5mg (オスタバロ®皮下注カートリッジ1.5mg) — Teriparatide
• Allopurinol Tablets "AYUMI" (アロプリノール錠「あゆみ」) Allopurinol (xanthine oxidase inhibitor) for hyperuricemia and gout; available in 50mg and 100mg tablet strengths.

Quantifiable outcome

• Calonal commands >80% share of Japan's domestic acetaminophen market
• +2 more outcomes

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Nine partnerships are on record, tiered flagship, core and minor.

• Toho Holdings / Hisamitsu PharmaceuticalflagshipStrategic or Co-development Partner · 1 June 2026As part of the GNI Group acquisition of Ayumi, existing Ayumi shareholders Toho and Hisamitsu will become shareholders of GNI Group, integrating Ayumi into a larger biopharma platform focused on fibrosis, pain management, rheumatology, oncology and orthopedics.
• Showa Yakuhin Kako Co., Ltd.flagshipStrategic or Co-development Partner · 1 December 2015In December 2015, AYUMI absorbed Showa Yakuhin Kako's medical business (including the Calonal acetaminophen analgesic franchise) via merger, creating Japan's first dedicated rheumatism-and-orthopedics specialty pharma. Showa Yakuhin Kako's orthopedic-specialist network continues to support AYUMI's information provision activities.
• Santen Pharmaceutical Co., Ltd.flagshipStrategic or Co-development Partner · 1 August 2015In August 2015, Ayumi Pharmaceutical was founded by inheriting Santen Pharmaceutical's 30-year anti-rheumatic drug business, including four anti-rheumatic agents referenced in Japanese rheumatology guidelines. This formed the founding asset of AYUMI's rheumatism specialty franchise.
• Astellas Pharma Inc.coreOEM/ Whitelabel/ Licensing PartnerManufacturer of record for AYUMI-distributed Bonoteo (minodronic acid hydrate) osteoporosis tablets (50mg); Bonoteo 50mg is manufactured and approved by Astellas and sold by AYUMI under transfer/distribution arrangements.
• Ono Pharmaceutical Co., Ltd.coreOEM/ Whitelabel/ Licensing PartnerManufacturer of record for AYUMI-distributed Recalbon (minodronic acid hydrate) osteoporosis tablets (50mg); Recalbon 50mg is manufactured and approved by Ono and sold/distributed by AYUMI.
• Mochida Pharmaceutical Co., Ltd.flagshipOEM/ Whitelabel/ Licensing PartnerManufacturer of record for AYUMI's Tocilizumab BS "MA" product line (IV 80/200/400mg and SC 162mg syringe / auto-injector). Mochida developed and manufactures the biosimilar while AYUMI holds the marketing authorization and commercializes the brand in Japan.
• Daiichi Sankyo Healthcare Co., Ltd.minorGTM or Marketing PartnerLicensed to sell the OTC version of AYUMI's acetaminophen brand — カロナール®A — in the Japanese consumer-health market; AYUMI supplies and licenses the brand for OTC use.
• Japan Generic Manufacturers Association (日本ジェネリック製薬協会)coreOthersIndustry-association membership adopted as the basis for AYUMI's transparency guidelines on payments to medical institutions and patient groups, as well as its patient-group collaboration guideline.
• Japan Pharmaceutical Manufacturers Association (日本製薬工業協会 / JPMA)coreOthersIndustry-association membership approved by the JPMA board on February 18, 2016 and effective March 1, 2016; provides industry-level representation and policy engagement for AYUMI as an ethical pharmaceutical manufacturer.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Hisamitsu Pharmaceutical: Hisamitsu is a Japanese specialty pharma (best known for transdermal patches) and an existing shareholder in AYUMI's parent via the GNI Group deal, providing strategic adjacency in pain management and Japanese NHI-channel distribution.
• Santen Pharmaceutical: Santen is the Japanese ophthalmology-focused pharma from which AYUMI inherited its 30-year anti-rheumatic drug franchise in 2015; it remains a broad incumbent in Japanese specialty pharma and a strategic reference point for AYUMI's rheumatology positioning.
• Daiichi Sankyo: Daiichi Sankyo is AYUMI's OTC partner (Daiichi Sankyo Healthcare sells Calonal A) and a broad Japanese pharma incumbent; it provides a comparison point for larger-scale Japanese pharma commercialization infrastructure.
• Ono Pharmaceutical: Ono Pharmaceutical manufactures Recalbon for AYUMI and operates as a broad Japanese pharma incumbent with biologic and specialty franchises; its dual role as supplier and peer makes it a relevant strategic comparable.
• Chugai Pharmaceutical: Chugai is the originator of tocilizumab (Actemra) and a major Japanese biologics manufacturer—directly comparable as the innovator whose products AYUMI's BS 'MA' biosimilars target, and a broader incumbent in rheumatology and immunology.
• Kyowa Kirin: Kyowa Kirin is a Japanese specialty pharma with overlapping franchises in immunology and bone health, including biologic therapies that compete with AYUMI's biosimilars and DMARD portfolio in rheumatology and osteoporosis.

Direct peers

• Nichi-Iko Pharmaceutical: Nichi-Iko is a major Japanese generics and specialty pharmaceutical company with comparable portfolio breadth in anti-rheumatics, biosimilars (etanercept and adalimumab BS among others), and NHI-channel distribution.
• Sawai Group Holdings: Sawai is one of Japan's largest generic pharmaceutical manufacturers, with overlapping product categories in anti-rheumatics, biosimilars, and central nervous system drugs, and a similar manufacturing-led specialty pharma model.
• Toho Pharmaceutical: Toho Holdings is both a major Japanese pharmaceutical wholesaler (distributing AYUMI's products) and an existing shareholder of AYUMI via the GNI Group transaction—representing both a channel partner and a comparable specialty pharma group.
• Mochida Pharmaceutical: Mochida manufactures AYUMI's Tocilizumab BS 'MA' and is a Japanese specialty pharma with comparable focus on immunology, pain, and biosimilars—operating as both supplier and direct competitor in the Japanese specialty pharma market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AYUMI Pharmaceutical