Japans Daiichi Sankyo seeking buyers for OTC Drug Unit

Japans Daiichi Sankyo seeking buyers for OTC Drug Unit

Japan’s Daiichi Sankyo is in talks with several firms to promote its wholly owned over-the-counter (OTC) drug unit, with the ultimate value more likely to attain around 100 billion yen ($900 million), Nikkei Enterprise reported on Thursday.

We reported earlier this year that Japan’s fourth-largest drugmaker by gross sales had employed JPMorgan to consult on the potential sale of the unit, Daiichi Sankyo Healthcare.

The corporate denied it was negotiating a sale.

“Though Daiichi Sankyo is continually analyzing the potential for a wide range of strategic developments with the goal of sustainable enterprise development, this reporting is just not appropriate,” is mentioned in a press release.

Daiichi Sankyo is specializing in growing most cancers remedies to offset an income drop following patent expirations of its mainstay blood strain drug.

Within the yr using March 2019, the OTC unit generated 66.4 billion yen in gross sales. The group’s total sales reached 930 billion yen.

The OTC unit makes well-liked power drink Regain in addition to Lulu Assault chilly drugs and Gaster 10 abdomen medication.