Takeda Pharmaceutical Co is planning a sale of its Tachosil brand of surgical patches and sealants as it looks to cut debt after its US$62 billion (RM252.58 billion) takeover of Shire plc, people familiar with the matter said.
Tachosil could fetch about US$500 million in a sale, said the people, who asked not to be identified because the deliberations are private.
The asset has attracted interest from bidders including Baxter International Inc and Johnson & Johnson (J&J), according to the people.
Shares of Takeda rose 1% in Tokyo trading yesterday, compared to a 0.6% gain in the benchmark Nikkei 225 Index. No final decisions on formal bids have been made, and Takeda is still weighing which assets to sell as part of the transaction, they said.
Representatives for Takeda and J&J declined to comment. A representative for Baxter didn’t have an immediate comment.
Takeda’s takeover of Shire, completed in January, vaulted it into the ranks of the world’s top 10 drugmakers and brought lucrative therapies for rare diseases.
It also doubled the firm’s debt level and prompted S&P Global Ratings and Moody’s Investors Service to cut its credit rating.
The company has laid out a plan for potentially US$10 billion in divestments to help it reduce debt. — Bloomberg