Takeda Pharmaceutical Company Limited [NYSE: TAK] has decided to sell its Japanese Consumer Health Unit to US investment fund Blackstone Group for $2.3 billion.
Blackstone Group is one of the world-leading investment firm. Its experience in the health care sector is high. The deal is expected to close by March 31, 2021.
Shares of Takeda Pharmaceutical has dropped 0.37% or down -0.07 cents during the trading of Friday. It has earlier opened at 18.86 and has a closing price of $18.84.
Takeda has a day low range of $18.74 a high range of $18.91. It has a trading volume of 826.72K as compared to the average volume of 1.07 million.
TAK has a 52-weeks low range of $12.43 and a day high range of $20.92. It has moved up 51.57% from its 52-weeks low and moved down-9.96% from its 52-weeks low. Takeda has a total market capitalization of 59.40 billion.
The portfolio which is to be sold to Blackstone includes a variety of over-the-counter (OTC) medicines and health products that generated total revenues of over 60 billion in the fiscal year.
TCHC’s strong regional brands include Alinamin, its top-selling product and Japan’s first vitamin B1 preparation, and Benza, a cold remedy. Blackstone aims to pursue its business with current TCHC management.
Takeda has laid the foundation of TCHC in April 2017 to further grow the consumer health care business in Japan. Now its aim is to focus on highly innovative medicines across its five key business areas.