Daiichi Sankyo denies OTC unit sale plans

Japanese pharma Daiichi Sankyo (TYO: 4568) has denied that it is negotiating the sale of its subsidiary, Daiichi Sankyo Healthcare, despite media reports that talks are underway, writes The Pharma Letter's Japanese correspondent.

Nikkei Business reported that several companies are currently bidding for the wholly-owned business, which sells over-the-counter drugs such as cold medicines, pain patches and nutritional supplements, in a deal that could be worth 100 billion Japanese yen ($910 million). And, according to Reuters, Daiichi Sankyo has hired JP Morgan as its advisor on the sale.

Daiichi Sankyo Healthcare’s products are popular in Japan and other Asian countries and include well-known brands such as cold remedy Lulu, topical anti-inflammatory analgesic Loxonin and energy drink Regain.