Takeda sells consumer business to Blackstone for £1.7bn
TAKEDA PHARM SP ADR
$13.24
10:59 07/01/25
Japan's Takeda Pharmaceutical has agreed to sell its consumer healthcare business to US private equity firm Blackstone for 242bn yen (£1.7bn) in the Japanese company's latest deal to reduce debt and focus on more complex treatments.
Blackstone will buy various medicines sold over the counter, mainly in Japan, including Alinamin, Japan's first vitamin B1 preparation, and Benza, a cold remedy.
Takeda is selling $10bn (£7.6bn) of assets to reduce debt it took on with the £46bn purchase of Shire in early 2019. Japan's biggest drugs company is concentrating on cancer treatments, gastrointestinal conditions, neuroscience, rare diseases and plasma-derived treatments.
Christoph Weber, Takeda's chief executive, said: "Today’s transaction will provide TCHC [the consumer business] with the ownership, resources and strategic focus to continue to thrive and meet the needs of customers, while further sharpening Takeda’s strategic focus and commitment to financial discipline and transforming science into life-changing medicines."
Takeda has already announced the sale of $1.8bn of assets in 2020 in Asia, Europe and Latin America. It has also sold assets in Russia, the Middle East and Africa.