Japan's Takeda Pharmaceutical Co Ltd is making final arrangements to sell its domestic over-the-counter (OTC) business to U.S. investment fund Blackstone Group Inc , Kyodo News reported on Wednesday.
Takeda, Japan’s largest pharma company, has been reducing its OTC assets worldwide as it seeks to refocus its business and reduce debt following its $59 billion acquisition of Shire.
Blackstone was among final bidders for the OTC unit, Reuters reported in June, along with Bain Capital, CVC Capital Partners and Taisho Pharmaceutical Holdings Co Ltd . Takeda is looking to sell Takeda Consumer Healthcare, known for its Alinamin line of energy drinks, for more than 300 billion yen by the end of the month, Kyodo reported.
A Takeda spokeswoman declined to comment to Reuters on the report beyond saying it had not come from the company. A Blackstone representative was not immediately available for comment. The Shire acquisition, completed in January 2019, expanded Takeda’s drug pipeline and diversified its global sales, but also left it heavily indebted. To reduce the debt, Takeda has pledged to dispose of $10 billion worth of non-core assets.Reporting by Chris Gallagher, Rocky Swift and Junko Fujita in Tokyo; Editing by Shri Navaratnam and Christopher Cushing
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Japan manufacturers' gloom eases slightly but pandemic woes remainJapan's manufacturers were their least pessimistic in four months in August, the Reuters Tankan survey of business sentiment showed on Tuesday, but signalled a slow recovery from the coronavirus pandemic.
Read more »
Breakingviews - Corona Capital: Japan, Gig workers, Sportswear(Reuters Breakingviews) - Corona Capital is a daily column updated throughout the day by Breakingviews columnists around the world with short, sharp pandemic-related insights.
Read more »
Japan metals manufacturers see pick-up in demand from automakers after first-quarter plungeJapanese manufacturers of metals, including steel and aluminium, saw their output plunge in the April-June quarter as automakers temporarily shut factories to curb the spread of the COVID-19 virus and to match slumping demand.
Read more »
Japan PM Abe has left hospital in Tokyo: JijiJapanese Prime Minister Shinzo Abe has left hospital in Tokyo on Monday, the Jiji news agency reported, after his visit there stoked some concerns about his health.
Read more »
Japan PM Abe plans to leave hospital later Monday after check-up, government source saysJapanese Prime Minister Shinzo Abe entered a Tokyo hospital on Monday for a medical check-up and plans to return home later in the day, a government source familiar with the situation told Reuters.
Read more »
Retailers Design the In-Store Experience for Reusable PackagingRetailers like Kroger are preparing for the arrival of reusable packaging—and are designing an in-store experience to get consumers on board too.
Read more »