Takeda gets a $2.2B deal for its OTC unit as debt-relief drive nears its end
In a big step toward its $10 billion divestment goal, Takeda struck a deal to sell its Japanese consumer healthcare business, known for over-the-counter products, to US private equity firm Blackstone Group.
Takeda Consumer Healthcare Company was priced at around ¥242 billion ($2.28 billion), though that value will be adjusted to account for net debt and working capital, according to Takeda.
The deal — expected to close by the end of March 2021 —is part of Takeda’s plan to shed $10 billion in non-core assets to balance out debt incurred in the company’s $62 billion Shire acquisition. The buyout made Takeda a top 10 international drug company, but also saddled it with a reported $48 billion in net debt. Following the acquisition, Takeda shifted its focus to the following five areas: gastroenterology (GI), rare diseases, plasma-derived therapies, oncology and neuroscience.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.