FILE PHOTO: Takeda Pharmaceutical Co’s logo is seen at its headquarters in Tokyo, Japan, July 2, 2018. REUTERS/Kim Kyung-Hoon
August 24, 2020
TOKYO (Reuters) – Takeda Pharmaceutical Co <4502.T> has agreed to sell its Japanese consumer healthcare business to U.S. investment fund Blackstone Group <BX.N> for 242 billion yen ($2.3 billion), Japan’s largest drugmaker said on Monday.
The sale of Takeda Consumer Healthcare Company, which makes over-the-counter (OTC) drugs and health products, is expected to close by March 31, subject to regulatory closing conditions, the company said in a statement.
Takeda has been reducing its OTC assets worldwide as it seeks to refocus its business and reduce debt after its $59 billion acquisition of Shire.
(Reporting by Chris Gallagher; Editing by David Goodman)