Daiichi Sankyo looking to sell OTC drug unit for $900 million

Industry:    May, 2019

Japan’s Daiichi Sankyo Co is in talks with several companies to sell its wholly-owned over-the-counter (OTC) drug unit, with the final price likely to reach around 100 billion yen ($900 million), Nikkei Business reported on Thursday.

Reuters reported earlier this year that Japan’s No. 4 drugmaker had hired JPMorgan to advise on the potential sale of the unit, Daiichi Sankyo Healthcare.

A Daichi Sankyo spokesman declined to comment on the Nikkei Business report.

Daiichi Sankyo is focusing on developing cancer treatments to offset a revenue drop following patent expirations of its mainstay blood pressure drug.

The OTC unit makes an energy drink, Regain, as well as the Lulu Attack cold medicine and Gaster 10 stomach medicine.