October 15, 2019 / 7:59 AM / 2 months ago

Takeda sells Mideast, Africa drug portfolio to Switzerland's Acino

FILE PHOTO: Takeda Pharmaceutical Co's logo is seen at its new headquarters in Tokyo, Japan, July 2, 2018. REUTERS/Kim Kyung-Hoon/File Photo

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

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