Takeda to sell Japanese consumer health unit to Blackstone for $2.3bln

Takeda to sell Japanese consumer health unit to Blackstone for $2.3bln

Takeda to sell Japanese consumer health unit to Blackstone for $2.3bln akeda has been reducing its OTC assets worldwide    A Takeda logo is seen in its research hub in Cambridge, Massachusetts, U.S., November 26, 2018.TOKYO - Takeda Pharmaceutical Co has agreed to sell its Japanese consumer healthcare business to U.S. investment fund Blackstone Group for 242 billion yen ($2.3 billion), Japan's largest drugmaker said on Monday.The sale of Takeda Consumer Healthcare Company, which makes over-the-counter (OTC) drugs and health products, is expected to close by March 31, subject to regulatory closing conditions, the company said in a statement.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.($1 = 105.8300 yen)(Reporting by Chris Gallagher Editing