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Japan's Takeda Pharma says full-year profit slumps 56%

Posted on AllSides May 8th, 2024
From The Center

TOKYO, May 9 (Reuters) - Japan's Takeda Pharmaceutical (4502.T) said full-year earnings slumped by 56% as the company focused on rebuilding its drug pipeline to make up for the loss of patent protection for major sellers.

Operating profit was 214.1 billion yen ($1.38 billion) for the 12 months through March, versus 490.5 billion yen last year and a consensus estimate of 265.3 billion yen in an LSEG survey of 13 analysts.

The company forecast operating profit will reach 225 billion yen in the current fiscal year.

($1 = 155.6100 yen)

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