TOKYO: Takeda Pharmaceutical Co said on Monday it has agreed to sell its Japanese consumer healthcare business to U.S. investment fund Blackstone Group.
Takeda Consumer Healthcare Company, which makes over-the-counter drugs and health products, is valued at 242 billion yen and the sale price will be determined after calculating its debt and other factors, Takeda said.Japan's largest pharmaceuticals company has been reducing its OTC assets worldwide as it seeks to refocus its business and reduce debt following its US$59 billion acquisition of Shire.
Blackstone was among the final bidders for the OTC unit, Reuters reported in June, along with Bain Capital, CVC Capital Partners and Taisho Pharmaceutical Holdings Co Ltd. Takeda said proceeds from the sale would boost its net profit by 105 billion yen. The transaction is expected close by March 31, subject to regulatory closing conditions, it said.
The deal follows Blackstone's acquisition of Japan's Ayumi Pharmaceutical Corp for US$1 billion in March 2019.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Takeda to sell Japanese consumer health unit to Blackstone for US$2.3 billionTakeda Pharmaceutical Co has agreed to sell its Japanese consumer healthcare business to U.S. investment fund Blackstone Group for 242 billion ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Takeda to sell Japanese consumer health unit to Blackstone for US$2.3 billionTakeda Pharmaceutical Co has agreed to sell its Japanese consumer healthcare business to U.S. investment fund Blackstone Group for 242 billion ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Apple Korea, under antitrust probe, proposes US$84m to support small businessesSEOUL: Apple's South Korean unit has proposed measures to address antitrust concerns and offered to provide 100 billion won (US$84.02 million) ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
CGS-CIMB keeps 'add' call on Wilmar, says Chinese unit's value underestimatedCGS-CIMB on Friday maintained its 'add' call on Wilmar International despite a short-term overhang from this week's share sale by major stakeholder Archer Daniels Midland (ADM), adding that it remains positive on the planned listing of Wilmar's Chinese unit, Yihai Kerry Arawana (YKA). Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Regional health clusters phasing out Covid-19 deployment at dorms; MOM unit to take overSINGAPORE - The regional health clusters, such as the National Healthcare Group and SingHealth, will phase out their deployment at the dormitories with a new division under the Ministry of Manpower (MOM) to take over.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Another hospital visit by Japan PM Abe stokes health worriesTOKYO: A motorcade carrying Japanese Prime Minister Shinzo Abe entered a Tokyo hospital on Monday (Aug 24) again stoking concerns about his ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »