Dai­ichi Sankyo re­port­ed­ly sell­ing OTC unit for $900M in piv­ot to on­col­o­gy — but com­pa­ny says it's 'in­cor­rec­t'

Dai­ichi Sankyo has coun­tered a news re­port that it’s look­ing to sell its over-the-counter sub­sidiary for about $900 mil­lion, once again dis­pelling spec­u­la­tion that’s been wide­ly cir­cu­lat­ed as the drug­mak­er con­sol­i­dates op­er­a­tions around its grow­ing on­col­o­gy unit.

Japan­ese pub­li­ca­tion Nikkei Busi­ness first re­port­ed that Dai­ichi Sankyo is in talks with sev­er­al com­pa­nies to sell Dai­ichi Sankyo Health­care, which sells pain patch­es, cold med­i­cines, nu­tri­tion­al sup­ple­ments and the like. In March, un­named sources told Reuters that the com­pa­ny had hired JP Mor­gan to ad­vise on a po­ten­tial deal.

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