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Takeda to sell Japanese consumer health unit to Blackstone for $2.3 billion By Reuters

© Reuters. FILE PHOTO: Takeda Pharmaceutical’s logo is seen at its headquarters in Tokyo

TOKYO (Reuters) – Takeda Pharmaceutical Co (T:) has agreed to sell its Japanese consumer healthcare business to U.S. investment fund Blackstone Group (N:) for 242 billion yen ($2.3 billion), Japan’s largest drugmaker said on Monday.

The sale of Takeda Consumer Healthcare Company, which makes over-the-counter (OTC) drugs and health products, is expected to close by March 31, subject to regulatory closing conditions, the company said in a statement.

Takeda has been reducing its OTC assets worldwide as it seeks to refocus its business and reduce debt after its $59 billion acquisition of Shire.

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