International Finance
Healthcare

Japan’s Takeda Pharmaceuticals to sell it OTC business to Blackstone

Takeda Blackstone_IFM_Image
The company is looking to reduce its debt

Japan’s Takeda Pharmaceuticals is planning to sell its over-the-counter (OTC) business to its US-based investment fund Blackstone, according to Kyodo News.

The Japanese Pharmaceutical company has been reducing its assets all over the world in order to refocus its business as well as reduce its debt.

Blackstone was not the only investment fund bidding for Takeda Pharmaceutical’s OTC business in Japan, reportedly, other investors such as Bain Capital, CVC Capital Partners, and Taisho Pharmaceutical also placed their bids.

Takeda is looking to sell Takeda Consumer Healthcare for around $2.85 billion by the end of the month, Kyodo News reported.

Talks between both parties are in the final stage and the two companies plan to settle the deal by the end of this month.

Last year, Takeda acquired Irish drug making company Shire for around $59 billion, making it the largest-ever Japanese acquisition of a foreign company.

Earlier this month, Takeda also announced that it would produce and sell in Japan a novel coronavirus vaccine being developed by US biotechnology firm Novavax.

The deal between the firms allows Takeda Pharmaceutical to undertake the local production and commercialisation of NVX‑CoV2373 in Japan, which will be backed by funding from the Japanese Ministry of Health, Labour and Welfare (MHLW).

With regard to this, Takeda Pharmaceutical global vaccine business unit president Rajeev Venkayya told the media,  “Nothing is more important right now than protecting the world against COVID-19. We are excited to collaborate with Novavax to bring their promising vaccine candidate to Japan.

“Today’s announcement builds upon our ongoing support of pandemic preparedness and demonstrates Takeda’s commitment to the health and well-being of the Japanese population.”

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