Blackstone to acquire Takeda’s consumer health care business for $2.3 billion: WSJ

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Blackstone Group Inc. is buying Takeda Pharmaecutical Co.’s consumer health care business for 242 billion yen ($2.3 billion), the Wall Street Journal reported Monday. Takeda has been moving ahead with a plan to divest $10 billion of assets and use the proceeds to pay down debt incurred from the $58 billion acquisition of Shire PLC last year, the paper reported. The Japanese drug company is planning to focus on prescription drugs. The paper cited Blackstone’s head of private equity for Japan Atsuhiko Sakamoto as saying the private-equity firm plans to invest in the business to boost market share, add products and expand in Asia outside Japan. The firms would be interested in acquiring other Japanese OTC drug businesses, he said. Takeda’s U.S.-listed shares rose 3.3% premarket, but have fallen 4.5% in the year through Friday, while the S&P 500 has gained 5%.
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