Blackstone To Acquire Takeda’s Japan OTC Unit for $2.3 Bn

Blackstone, a private investment firm, has agreed to acquire Takeda Consumer Healthcare Company (TCHC), a subsidiary of Takeda and a provider of over-the-counter (OTC) medicines in Japan, for a total value of JPY 242.0 billion ($2.3 billion).

The portfolio to be divested includes OTC medicines and health products that generated revenues of over JPY 60 billion ($566 million) in fiscal year 2019. TCHC’s regional brands include Alinamin, its top-selling vitamin B1 product, and Benza Block, a symptom-based cold remedy. Blackstone says it intends to develop the business together with current TCHC management and continue to employ its employees.

The transaction is expected to close by March 31, 2021, subject to customary legal and regulatory closing conditions.

The pending divestment is the latest in a series of divestments of non-core assets by Takeda following its $62-billion acquisition of Shire in January 2019. So far in 2020 (as reported on August 23, 2020), Takeda has also agreed to divest three different non-core asset portfolios in the Asia Pacific, Europe, and Latin America regions. In June 2020, Takeda agreed to divest a portfolio of non-core assets sold exclusively in the Asia Pacific region to Celltrion, an Incheon, South Korea-based biopharmaceutical company developing innovator drugs and biosimilars, for up to $278 million.

In April 2020, Takeda announced the sale of non-core products in Europe to Orifarm Group, an Odense, Denmark-based generic-drug company, for up to $670 million, including the sale of two manufacturing sites in Denmark and Poland. In March 2020, Takeda announced the sale of non-core products in Latin America to Hypera Pharma, a Brazilian pharmaceutical company with a position in branded prescriptions, consumer health and branded generics, for $825 million. Also, in March 2020, Takeda completed the sales of non-core assets spanning the Russia-CIS region to Stada, a Bad Wilben, Germany-based pharmaceutical company, and in countries spanning the Near East, Middle East and Africa region to Acino, a Basel, Switzerland-based pharmaceutical company.

Source: Takeda and Blackstone

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