Takeda Expects Operating Profit to Rise 3.5-Fold in FY 2020

Economy

Tokyo, May 14 (Jiji Press)--Takeda Pharmaceutical Co. <4502> has estimated that its group operating profit in fiscal 2020 will rise 3.5-fold from the previous year to 355 billion yen, partly thanks to a fall in costs related to its acquisition of major Irish drug maker Shire PLC in January last year.

For the year through March 2021, the Japanese drug maker has also projected a net profit of 60 billion yen, up 35.6 pct, on sales of 3,250 billion yen, down 1.3 pct.

The company said the impact of the COVID-19 pandemic on its earnings is likely to be limited.

Christophe Weber, president and chief executive officer, told a conference call with media reporters Wednesday that Takeda aims to start patient registration for a clinical trial of a COVID-19 drug in July, .

For fiscal 2019, Takeda booked an operating profit of 100,408 million yen, down 57.8 pct from the preceding year, and a net profit of 44,241 million yen, down 67.3 pct. The profit slumps were attributed to acquisition-related costs.

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