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MarketScreener Homepage  >  Equities  >  Tokyo  >  DAIICHI SANKYO COMPANY, LIMITED    4568   JP3475350009

DAIICHI SANKYO COMPANY, LIMITED

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

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05/23/2019 | 01:04am EDT

TOKYO (Reuters) - Japan's Daiichi Sankyo Co Ltd 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 fourth-biggest drugmaker by sales had hired JPMorgan to advise on the potential sale of the unit, Daiichi Sankyo Healthcare.

The company denied it was negotiating a sale.

"Although Daiichi Sankyo is constantly examining the potential for a variety of strategic developments with the aim of sustainable business growth, this reporting is not correct," it said in a statement.

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

In the year through March 2019, the OTC unit generated 66.4 billion yen in sales. The group's total sales reached 930 billion yen.

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

(Reporting by Takashi Umekawa and Chang-Ran Kim; Editing by Stephen Coates and Christopher Cushing)

Stocks mentioned in the article
ChangeLast1st jan.
DAIICHI SANKYO COMPANY, LIMITED -4.14% 5789 End-of-day quote.69.02%
NIKKEI 225 -0.52% 21176.13 Real-time Quote.6.21%
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Financials (JPY)
Sales 2020 946 B
EBIT 2020 -
Net income 2020 82 597 M
Finance 2020 294 B
Yield 2020 1,22%
P/E ratio 2020 47,46
P/E ratio 2021 47,15
EV / Sales 2020 4,17x
EV / Sales 2021 4,06x
Capitalization 4 238 B
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Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 6 472  JPY
Spread / Average Target 8,3%
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Managers
NameTitle
Joji Nakayama Chairman & CEO
Sunao Manabe President, COO & Representative Director
Toshiaki Sai CFO, Representative Director & Vice President
Glenn J. Gormley Senior Managing Executive Officer, Head-R&D
Katsumi Fujimoto Director & Senior Managing Executive Officer
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