Takeda to sell off vitamins joint venture

Related tags Folic acid Pharmacology Basf

Japanese pharmaceutical firm Takeda will sell off its stakes in
five non-core joint ventures, including the vitamins business that
it operates with Germany's BASF, according to reports.

The company, Japan's largest drug maker, is looking to concentrate on its core pharma business.

Takeda started spinning off its non-core operations into joint ventures in 2000 as part of a major reorganization. It is expected to sell its stake in the venture with BASF, which involves the sales and distribution of a joint range of bulk vitamins in the Japanese market, before or during 2007, according to national press reports.

BASF holds a majority stake in the business - 66 per cent. A BASF spokesman said the company could not comment on whether it would take over the venture but added that it is a successful business.

The alliance was part of BASF's €600 million investment programme in its vitamins business, particularly improving the production of vitamins A, E and C. It also gained Takeda Vitamin and Food Company's manufacturing technology and patents related to the vitamins B1, B2, B6, C and folic acid, as well as Takeda's subsidiaries in Germany, the US and Singapore during the reorganization four years ago.

Takeda will also sell its stake in a food venture with Kirin Brewery.

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