TOKYO (Reuters) -Private equity firm Blackstone is to sell Japanese drugmaker Alinamin Pharmaceutical to North Asian buyout fund MBK Partners for 350 billion yen ($2.17 billion) the Nikkei newspaper reported on Tuesday.

Blackstone acquired Alinamin in 2021 after which Alinamin set up a unit in Taiwan and increased its overseas sales, the Nikkei said.

MBK aims to use its experience in consumer goods acquisitions to boost Alinamin's value, the Nikkei said.

MBK, Blackstone and Alinamin declined to comment.

($1 = 161.5500 yen)

(Reporting by Anton Bridge; Editing by Muralikumar Anantharaman)