5 March 2019 - Deborah Wilkes
Japan's Daiichi-Sankyo is exploring the sale of its OTC business, according to a Reuters report.
Quoting "several people with knowledge of the matter", Reuters said JP Morgan had been hired to advise on the potential deal.
A spokesperson for Daiichi-Sankyo declined to comment on the report, telling OTCToolbox the company had not released any information.
Sales by Daiichi-Sankyo's Japanese OTC business fell by 6.4% to JPY52.9 billion (USD0.48 billion) in the nine months ended 31 December 2018.
The Japanese pharmaceutical company highlighted growth of the Minon and Transino brands and said the decrease was mainly due to changes in accounting policy.
The Japanese OTC business accounted for 7.5% of Daiichi-Sankyo's total sales, which decreased by 5.1% to JPY703 billion.
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