Japanese drug giant Takeda says that profit before tax and exceptional items in the six months ended September 30, 2008, fell 69.7% year-on-year to 100.98 billion yen ($1.02 billion) on the back of expenses related to its $8.8 billion takeover of Millennium Pharmaceuticals (Marketletter April 14).
Despite the large fall, the firm's profit was better than its own prediction of 65.0 billion yen and, on the day the results were announced, November 4, shares in the firm jumped 5.2% to 5,080 yen. During the period, the Osaka-based company said net income plummetted to 71.79 billion yen from 218.01 billion yen in the like, year-ago period.
However, net sales improved 12% to 807.14 billion yen, as the negative impact of foreign exchange fluctuations was offset by the inclusion of revenues from Millennium and TAP, Takeda's US joint venture with Abbott Laboratories that was dissolved earlier in the year (Marketletter March 31).
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
7 day trial access
Become a subscriber
Or £77 per month
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Copyright © The Pharma Letter 2025 | Headless Content Management with Blaze