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TOKYO (AP) — Takeda Pharmaceutical Co. is selling its subsidiary in Japan focused on consumer healthcare to U.S. investment fund Blackstone Group.
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The deal, announced Monday by the Japanese drugs manufacturer, is valued at 242 billion yen ($2.3 billion), although the exact sales price will be determined later, after adjustments for debt and capital of the subsidiary, Takeda Consumer Healthcare Co.
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The deal will likely be completed by March 2021, according to Tokyo-based Takeda.
Takeda said it wants to focus on specialized areas, such as disorders of the digestive system, rare diseases, plasma-derived therapies and the prevention and treatment of cancer, rather than the increasingly competitive consumer sector.