Takeda eyes $1B from sale of majority stake in Wako Pure Chemical

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Osaka-based Takeda Pharmaceutical is cleaning house at a brisk pace as it moves to focus on core therapeutic areas with the latest move a possible sale of a majority stake in Wako Pure Chemical to free up cash, Bloomberg reports.

The company has reportedly hired Nomura Holdings to advise on a possible sale, Bloomberg said, with possible buyers identified as other firms in the space or private equity.

Bloomberg said that among private equity firms Permira Advisers and Carlyle Group may show interest in the maker of chemicals for laboratories and agents used in diagnostic tests that has operations spread out across the globe.

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CEO Christophe Weber--who completed his first year at the helm of Japan's top drug company in April--has set a focus on oncology, CNS and GI therapies. He hopes to find new blockbusters in-house or via partnerships and acquisitions.

At the same time, though a partnership with Teva Pharmaceutical Industries ($TEVA), the company will expand its generics business.

The strategy has seen asset sales in respiratory to AstraZeneca ($AZN) and a series of smaller deals aimed at exiting non-core areas.

- here's the story from Bloomberg

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