Takeda now sheds consumer health unit as part of divestment program

Japan’s largest drugmaker Takeda Pharmaceutical (TYO: 4502) says it is selling its wholly-owned subsidiary Takeda Consumer Healthcare Company Limited (TCHC) to Oscar A-Co KK, a company controlled by funds managed by the USA-based Blackstone Group.

Blackstone will make a total payment of 242 billion yen ($2.29 billion) for the business, which makes over-the-counter (OTC) drugs and health products. The transaction is expected to close by March 31, 2021, subject to regulatory closing conditions, the company said.

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.