May 23, 2019 / 12:37 AM / 5 months ago

Daiichi Sankyo looking to sell OTC drug unit for about $900 mln - Nikkei Business

TOKYO, May 23 (Reuters) - Japan’s Daiichi Sankyo Co is in talks with several companies to sell its wholly owned over-the-counter 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, Daiichi Sankyo Healthcare.

Daiichi Sankyo is focusing on developing cancer treatments to offset a revenue drop following patent expirations of its mainstay blood pressure drug. ($1 = 110.2200 yen) (Reporting by Chang-Ran Kim; Editing by Stephen Coates)

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