Japan’s Takeda Pharmaceutical has sold its one-third stake in a vitamin joint venture with BASF Japan.
Takeda, Japan's largest pharmaceutical manufacturer, did not disclose the sale price for BASF Takeda Vitamin, which was set up in January 2001. The stake sale is part of the original agreement between Takeda and BASF Japan when they established the joint venture.
Since starting operations, BTV has been steadily expanding its business and has become one of the leading suppliers of bulk vitamins, premixes and pharmaceutical excipients in Japan, according to Takeda.
The unit posted sales of about 7 billion yen ($60m) last year.