- Aimed at trimming debt after its $59B takeout of Shire plc, Takeda Pharmaceutical Company (TAK -2.8%) is seeking suitors for a lineup of drugs it sells in Western Europe that could fetch €1.5B ($1.68B) according to Reuters.
- The products include over-the-counter (OTC) and prescription medicines, most of which are no longer patent-protected. The portfolio generates EBITDA of ~€160M, including ~€40M from the OTC drugs.
- Possible bidders include private equity shops and industry players. The company will also consider splitting the business if necessary. Potential suitors include Germany’s Stada, France’s Zentiva and Italy’s Recordati.
- Takeda is also in the process of divesting its Latin American assets, valued at ~$1B. Brazilian pharma firm EMS appears to be the frontrunner.
Date: 22/07/2019
Source : seekingalpha