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Takeda raises first-half guidance

This article was originally published in Scrip

Executive Summary

Takedahas raised its consolidated net profit forecast for the first half ended September 30th by ¥20.0 billion ($195.7 million) to ¥70.0 billion. The figure compares with ¥218.0 billion in the same period of last year and reflects the dissolution of the TAP joint venture in the US and costs associated with the acquisition of Millennium Pharmaceuticals. The Japanese firm raised its sales outlook by ¥45.0 billion to ¥805.0 billion (+14%), boosted by Millennium, stronger sales in Japan and exchange rate gains, while operating profit should come in ¥35.0 billion ahead of earlier guidance at ¥85.0 billion (-68%). The company will release an updated full-year forecast at the time of its first-half results on November 4th.

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