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.
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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.
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