As it digests Shire, Takeda plans to shed $10B in non-core assets to relieve debt burden
After consummating his hefty $62 billion deal to buy Shire, Takeda’s Christophe Weber is dealing with the sticky issue of its ballooned debt burden with divestments of around $10 billion, the CEO of the biggest Japanese drugmaker told reporters at the JP Morgan conference on Tuesday.
The combined company, which is saddled with a reported $48 billion in net debt after the Shire takeover, is planning to shed “non-core” assets, including businesses from the $13.7 billion Nycomed acquisition executed in 2011, according to the Financial Times. Takeda $TAK bought the Swiss drugmaker for its smoker’s lung drug and its OTC portfolio in an attempt to expand its footprint in emerging markets, but as market conditions worsened, the deal invited a storm of criticism.
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