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Takeda Pharmaceutical Co has agreed to sell its Japanese consumer healthcare business to U.S. investment fund Blackstone Group for 242 billion yen (US$2.3 billion), Japan's largest drugmaker said on Monday.
FILE PHOTO: Takeda Pharmaceutical Co's logo is seen at its headquarters in Tokyo, Japan, July 2, 2018. REUTERS/Kim Kyung-Hoon
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TOKYO: Takeda Pharmaceutical Co said on Monday it has agreed to sell its Japanese consumer healthcare business to U.S. investment fund Blackstone Group .
Takeda Consumer Healthcare Company, which makes over-the-counter (OTC) drugs and health products, is valued at 242 billion yen (US$2.29 billion) and the sale price will be determined after calculating its debt and other factors, Takeda said.
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Japan's largest pharmaceuticals company has been reducing its OTC assets worldwide as it seeks to refocus its business and reduce debt following its US$59 billion acquisition of Shire.
Blackstone was among the final bidders for the OTC unit, ReuterRead More – Source