Takeda will consider selling non-core assets including Nycomed
10 JAN 2019
Takeda Pharmaceutical Company Limited’s [TYO:4502] Chief Executive Christophe Weber has said the Japanese group’s Nycomedbusiness is one of the “non-core” businesses that it may consider selling, the Financial Times reported.
Weber, speaking at a healthcare conference in San Francisco, said Takeda has several hundred non-core brands that could be sold, according to the report.
Takeda is looking to sell USD 10bn (JPY 1.079tn) of assets to reduce its net debt of USD 48bn, having this week completed its GBP 46bn (USD 50.90bn) acquisition of Ireland-based rival Shire, the item said.
Takeda’s other non-core brands include the blood pressure treatment Azilva, the diabetics medicine Nesina and the gout treatment Uloric, according to the report.
Takeda will concentrate on the core areas of oncology, neuroscience, rare diseases, gastrointestinal conditions and plasma-based therapies, the report continued.
The Japanese group acquired Nycomed for USD 13.7bn in 2011 in an attempt to grow its business in emerging markets, the item noted. Nycomed’s brands include the lung condition treatment Dazax and several over-the-counter (OTC) medicines, the report added.
One analyst cited by the newspaper said Takeda will probably sell Nycomed’s Russian OTC arm.
However, a Reuters report on 7 January said Weber ruled out the possibility of selling Takeda’s OTC business in the near future. Webers said Takeda is unlikely to sell the OTC business even if it is under pressure to bolster its balance sheet, according to the report.
Link to original source