Sources tell FOX Business’ Charlie Gasparino that it’s unclear whether Blackstone will invest, as their interest in each deal seems to be waning.
TOKYO (AP) – Takeda Pharmaceutical Co. sells its subsidiary in Japan, focused on consumer care, to the American investment fund Blackstone Group.
The deal, announced Monday by the Japanese drugmaker, is valued at 242 billion yen ($ 2.3 billion), although the exact sale price will be determined later, following adjustments to debt and capital of the subsidiary, Takeda Consumer Healthcare Co.
STEPHEN SCHWARZMAN PRACTICAL PHILANTHROPY OF THE LONG TIME
The deal is likely to be completed by March 2021, according to Takeda-based Tokyo.
Takeda said it wants to concentrate on specialized areas, such as digestive system disorders, rare diseases, plasma discharge therapies and the prevention and treatment of cancer, instead of the ever-competitive consumer sector.
Stephen Schwarzman, co-founder and chief executive officer of Blackstone Group Inc., poses for a photo prior to an interview in New York, September 13, 2019. Photographer: David ‘Dee’ Delgado / Bloomberg via Getty Images
The subsidiary, spun off in 2017, sells drugs popular in Japan called Alinamin, a type of vitamin supplement, and Bendex, a cold remedy.
Blackstone has plans to develop the company and retain all workers, Takeda said in a statement.
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Takeda, among the global companies working on a treatment for COVID-19, expects the sale to boost its net profit by about 105 billion yen ($ 1 billion).
Takeda, which acquired international biotech company Shire in 2019, recently sold what it sees as its other non-core assets, including production sites in Europe and products in South America.
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