Hitachi, Carlyle, Permira among bidders for Takeda's chemicals unit Wako Pure Chemicals

Japan's Hitachi Ltd and private equity firms Carlyle Group and Permira are among the bidders for Takeda Pharmaceutical Co's chemicals unit valued at around $1 billion, Reuters today reported, citing people with knowledge of the matter.

Takeda Pharmaceutical, Japan's largest drugmaker by market value, is selling its 70-per cent stake in unlisted Wako Pure Chemicals Industries Ltd as part of its plan to streamline operations, and hired Nomura Holdings to advise on a possible sale.

The first round of bidding closed yesterday, the report said.

It is not clear whether, Fujifilm Holdings Corp, which holds 9.5 per cent of Wako Pure, had put its bid by the Tuesday deadline, the report added.

Founded in 1922, Osaka-based Wako Pure Chemicals, formerly known as Takeda Pure Chemicals till 1947, develops and manufactures laboratory chemicals, specialty chemicals, and clinical diagnostic reagents for scientists, medical professionals, and industrial applications.

The company operates globally and had sales of 75.7 billion last year.

Wako Pure Chemicals CEO Christophe Weber is focusing on oncology, CNS and GI therapies and plans to expand these areas through partnerships and acquisitions.

It is already expanding its generics business though a partnership with Israel's Teva Pharmaceutical Industries.