Takeda to Sell OTC Drug Unit to Blackstone
Tokyo, Aug. 19 (Jiji Press)--Japan's Takeda Pharmaceutical Co. <4502> is planning to sell an over-the-counter drug subsidiary to U.S. investment company Blackstone Group Inc. for an estimated 300 billion yen, it was learned Wednesday.
The subsidiary is Tokyo-based Takeda Consumer Healthcare Co., whose main products include Alinamin drinks.
The sale appears to be part of Takeda Pharmaceutical's plans to shed noncore businesses for as much as 10 billion dollars, or 1.5 trillion yen, in order to reduce its interest-bearing debts of more than 5 trillion yen.
Takeda's debts ballooned because of the acquisition of Irish drugmaker Shire PLC in January 2019.
Takeda Consumer Healthcare's net profit stood at 9.6 billion yen on sales of 64.1 billion yen for the year that ended in March 2019.
[Copyright The Jiji Press, Ltd.]