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Takeda Pharmaceutical Co. is close to selling some assets in emerging markets and Western Europe, people familiar with the matter said, in a move that would help the Japanese drugmaker reduce its debt pile.

Takeda may announce the sale of over-the-counter and prescription drugs in Latin America, the Middle East, Africa, Russia and Asia within weeks, the people said, asking not to be identified because the matter is private. A sale of the drugs, which Takeda acquired through its 2011 purchase of Swiss rival Nycomed, could fetch about $3 billion in total, Bloomberg News first reported in January.

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