TOKYO (Reuters) - Japan’s Takeda Pharmaceutical Co Ltd (4502.T) said on Tuesday it will sell a portfolio of over-the-counter (OTC) and prescription medicines in the Middle East and Africa to Swiss pharmaceuticals company Acino for more than $200 million.
The sale, which Takeda said in a statement is expected to close in the quarter ending March, comes as Japan’s biggest drugmaker looks to trim its debt following the $59 billion purchase of Shire.
Takeda gained global heft through the Shire acquisition but left it highly indebted. It has pledged to shed non-core assets while focusing on five key areas - oncology, gastroenterology, neuroscience, rare disease, and plasma-derived therapies.
Takeda said it will continue to manufacture the drugs for Acino, which is backed by Avista Capital [AVAAA.UL] and Nordic Capital.
Reporting by Sam Nussey, editing by Louise Heavens