It’s part of a larger shift in the industry as drugmakers scramble to consolidate, seeking to bulk up to survive the increasing pressure from stricter regulations on drug prices and looming patent expirations.
Japanese companies announced more than 1,000 offshore acquisitions totaling a record $191 billion last year, led by Takeda Pharmaceutical Co.’s blockbuster takeover of Shire Plc.
Unison is working with JPMorgan to gauge buyer interest in the drugmaker, which may be valued at around $1 billion.
The asset sale is part of a plan to gain approval for a tie up with Germany’s Linde AG.
The settlement marks the end of a tumultuous fight between Xerox and Icahn over a transaction that would cede control of the once-iconic American innovator synonymous with office copy machines to a Japanese company.
The target is to help shoppers replicate online the experience of trying on cosmetics in a store, and use data from smart devices to create personalized makeup for customers.
The company, named after the Chinese character for “thought,” has a network of 57 stores across Japan.
Asahi is selling its stake as it expands in Europe, where it acquired about $11 billion in beer brands from Anheuser-Busch and SAB Miller.
Stagnant spending and soft wage growth in Japan are forcing two of Asia’s biggest retailers to court overseas consumers to drive long-term growth.