Takeda sheds Mideast, Africa portfolio

Japan’s largest drugmaker has struck a deal to sell a major part of its portfolio.

This week, Takeda Pharmaceutical Co. announced that it is selling its OTC and pharmaceuticals portfolio for the Mideast and Africa to Switzerland-based Acino. The deal is worth about $200 million. As part of the deal, Takeda will continue some of the manufacturing operations for Acino.

Takeda is reportedly looking to lower its debt since the company’s $59 billion takeover of Shire earlier this year.

The sale is expected to close in March.

Read the Reuters report.