Takeda to Sell Drugs to Stada for $660 Million to Shed Debt

Takeda Pharmaceutical Co. agreed to sell some assets in emerging markets and western Europe to Germany’s Stada Arzneimittel AG for $660 million, as the Japanese drugmaker works to further lighten its debt load after its $62 billion takeover of Shire Plc.

The sale, which includes over-the-counter and prescription medicines in Russia, will help simplify the company’s portfolio, Takeda said in a statement on Tuesday. It is the company’s fourth divestment in six months.

The transaction is the latest move in Takeda’s efforts to rework its portfolio to repay borrowings from the Shire takeover. The company took on around $31 billion ...