Daiichi Sankyo agreed on 15 April to sell Daiichi Sankyo Healthcare, the maker of Loxonin pain relief and Lulu cold remedies, to Suntory Holdings for an expected ¥246.5bn.
Why Suntory Holdings Limited is buying Daiichi Sankyo Healthcare Co., Ltd.
Daiichi Sankyo said the unit would grow faster under Suntory, which has an established base in beverages, food and health foods, while it concentrates on innovative medicines, particularly oncology. Japan is promoting self-care and self-medication to extend healthy life expectancy.
Deal terms and financing
The ¥246.5bn price is an estimate subject to adjustment under the agreement. Shares will be transferred in stages so that Daiichi Sankyo's voting stake falls to 70% on 1 June 2026, to 30% on 1 June 2027 and to zero on 1 June 2029. Daiichi Sankyo expects to book a gain in the year to March 2028.
Regulatory approvals and timing
The first transfer was planned for 1 June 2026, and the full transfer is scheduled to complete by June 2029. Suntory will make the business a consolidated subsidiary after the second tranche in 2027 and a wholly owned one after the third.
Market context
Daiichi Sankyo Healthcare reported net sales of ¥76.0bn and operating income of ¥12.9bn in the year to March 2025. Its brands also include Minon skincare. The sale follows a long line of consumer-health exits by large drugmakers, including Johnson & Johnson, GSK, Sanofi and Takeda.
